Shehbaz returns and Pakistan’s weekly inflation spikes to a 14-year high 

What happened : As Pakistan is going through an economic crisis with rising inflation and prices of goods soaring up in the country. Pakistan has also recorded an increase in petroleum prices in a bid to revive the IMF loan program. On the other hand, the weekly inflation in the country has shot up to 3.38% during the week.  Details : A local publication quoted the development as,  “sensitive price index surged 3.38% week on week and 27.82% year on year hitting a 14 year high during the week ended June 16.”  The Pakistan Bureau of Statistics released the data stating that 71% of prices of basic commodities shot up and it also showed  “an increase in the prices of diesel, gents sponge chappal, gents sandal, chicken, cigarettes and cooked daal.”  More : At the same time, the Securities Head of Research Fahad Rauf said,  “The quantum of increase has not been seen since the 2008 global financial crisis.”