Pakistan increases drug prices amid soaring inflation. The people who are suffering from inflation are upset because the caretaker government increased the cost of medications.
The price of the new cancer treatment drug Lorica has been set at Rs846,857 in a notification regarding price increases for 25 life-saving medications that was released by the Drug Regulatory Authority.
The notification states that the cost of an asthma inhaler for patients has gone up to Rs. 1,390 and the price of a hepatitis injection has gone up to Rs. 10,275.
20 Paracetamol and Diphenhydramine tablets will now cost Rs 192, while the cost of Chloroquine, which is used to treat malaria, has been set at Rs 1,007.
Also read: Hike in petrol, food prices push weekly inflation up by 0.78%
As Pakistan increases drug prices amid soaring inflation, according to the notification, the price of the injection used in cancer treatment, Bortezomib, has been set at Rs17,513, and the cost of the antibiotic used for infections, Zerbexa, is now available at Rs15,356.
In the field of economics, inflation refers to an increase in the overall cost of goods and services in a country.
Each unit of currency can purchase fewer goods and services as the general price level rises, so inflation is associated with a decline in the purchasing power of money.
Deflation, which is a drop in the general level of prices for goods and services, is the opposite of inflation.
The annualized percentage change in a general price index, or the inflation rate, is the most widely used indicator of inflation.
The consumer price index (CPI) is frequently used for this reason because prices faced by households do not rise uniformly.
In the United States, wages are also calculated using the employment cost index.
