The inflation rate in Pakistan is being rapidly increased dramatically with the passage of every minute. So, the inflation rate is measured by the annual percentage of rise in the cost of raw materials which are to be taken by people to live a simple and healthy life ahead. In a recent report, it was addressed that in March of 2021 the inflation rate in Pakistan is 9.05pc, which is the highest since July of 2020 which was 8.7pc in February. Such a huge change in the rate of inflation of prices in the country will produce increased poverty.
On the other hand, due to the covid-19 Pandemic, so many people lost their jobs, and earning resources in such inflation conditions will be hunted more. However, the extent that households’ income doesn’t increase as much as prices and cost of service including need-based expenses such as housing, education, medical care, food, and utilities with automobiles, jewelry, and cosmetics. So, it is the governmental responsibility to keep the inflation rate low and stable like a minimum inflation target of 2pc and this will help every common person to make plans for the future.
Zaheer Iqbal
Turbat Kech