Asia’s fastest-inflation country now is Pakistan after its inflation increased to a record high in April.
Consumer prices rose by 36.4% as a result of the weak currency, increasing costs of food and energy, and other factors.
In 2023, the Pakistani rupee lost 20% of its value against the US dollar, raising the cost of imports. Costs for clothing, footwear, housing, water, and electricity all increased, while inflation in the transportation and food sectors increased by 56.8% and 48.1%, respectively.
The unstable economical conditions have already impacted the county badly and inflation continues to rise further. Government must take steps to bring the prices under control so that lower-income groups can survive in the current economic and political turmoil.
