Pakistan's Inflation reaches 29.40pc in June: PBS report

ISLAMABAD: Pakistan Bureau of Statistics (PBS) reported the monthly inflation rate reached 29.40 per cent in June, indicating a slight decline as compared to May, 2023, ARY News reported on Monday.

According to the latest data released by the Pakistan Bureau of Statistics (PBS), the inflation rate for the month of June was recorded at 29.40 per cent, representing a significant increase of 8.1 percent compared to the previous year.

READ: Pakistan’s weekly inflation up by 0.33pc

Meanwhile, the inflation rate of May was reported at 38 per cent, indicating a slight decline in June. However, despite this marginal improvement, the country remains mired in a high inflation environment that is eroding the purchasing power of citizens.

Digging deeper into the statistics, the report reveals that the urban areas experienced an inflation rate of 27.3 per cent, while, the inflation rate stood even higher at 32.4 per cent, reflecting the vulnerability of agricultural communities to the rising cost of living.

Comparing the current situation with that of the previous year, the Bureau of Statistics reveals that the inflation rate in June last year was 21.3%. This indicates a substantial year-on-year increase, further indicating the severity of the current inflationary crisis.