Pakistan Bureau of Statistics's data shows a rise in inflation from 8.21% in February to 9.41% in March
SUKKUR: Inflation hit a five-year high in March as the expected impact of the rupee devaluation and fuel price hikes took its toll. Pakistan’s consumers saw the highest prices of goods since November 2013, adding to the economic headwinds besetting Prime Minister Imran Khan’s government.
The data collected by Pakistan Bureau of Statistics shows a rise in inflation from 8.21 per cent in February to 9.41 per cent in March, with steep prices of food, fuel and transport costs crushing household budgets. Energy costs have particularly seen a sharp rise as it has been affected by a series of rupee devaluations, prompting the government to declare a 6 rupee per litre rise in petroleum prices. Overall, Pakistan’s currency lost over a fourth of its value over the past year.
It is a common practice of governments all over the world to claim to fix all the issues the country faces, in the initial three to four months of their governance. In bids to improve the economy, our nation has been prepared for difficult times, and has even borne them with great courage — something which has been taken for granted. However, the continuous inflation hits are crushing the poor and the middle class of the country under the burden of buying basic utilities at such high costs. The government ought to take significant action to rid the country of this menace as the people will not be able to bear any further price hikes.
Sonia Najam Shaikh
Published in The Express Tribune, April 4th, 2019.
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