Hike in inflation during August 2022
The Pakistan Bureau of Statistics on Thursday has announced an increase in inflation by 2.4 percent in the month of August 2022 as compared to the last month July.
According to the PBS, the general inflation increased has increased by 27.3 percent on year-on-year basis in August 2022 as compared to 24.9 in the previous month.
On month-on-month basis, it increased by 2.4 percent in August 2022 as compared to an increase of 4.3 percent in the previous month and an increase of 0.6 percent in August 2021.
As inflation in urban areas have increased by 26.2 percent on year-on-year basis in August 2022 as compared to an increase of 23.6 percent in the previous month.
Hike in inflation during August 2022
On month-on-month basis, it increased by 2.6 percent in August 2022 as compared to an increase of 4.5 percent in the previous month and an increase of 0.5 percent in Aug 2021.
In rural areas, the PBS data has proved that inflation has increased by 28.8 percent on year-on-year basis in August 2022 as compared to an increase of 26.9 percent in the previous month.
Inflation has been considered as to be the main challenge for the economy of Pakistan. As citizens are bearing the brunt of hike in prices. In the wake of flood situation, inflation is expected to increase more this month as agricultural lands have been affected by flood. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.
