Skip to content
Search

Latest Stories

Pakistan experiences highest ever recorded inflation rate

Last month witnessed the steepest price surge ever recorded in the history of Pakistan, with the costs of food, beverages, and transportation being the primary drivers of inflation.

Pakistan experiences highest ever recorded inflation rate

On Wednesday (01), the Pakistan Bureau of Statistics reported that the Consumer Price Index (CPI) which is measured by a basket of products showed a significant year-on-year increase, with monthly inflation surging to 31.6 per cent in February.

Available data indicates that last month witnessed the steepest price surge ever recorded in the history of Pakistan, with the costs of food, beverages, and transportation being the primary drivers of inflation.


The Dawn reported that analysts fear that the level of inflation may force families to make difficult choices and sacrifices.

The research firm Arif Habib Ltd also noted that this is the highest annual inflation rate since the available data from July 1965 and is expected to continue to rise in the upcoming months.

After staying above 20 per cent for eight consecutive months from June to January, inflation surged past 30 per cent last month, Dawn stated.

In comparison, inflation was 12.2 per cent in February of the previous year. The costs in four categories - transport, food and non-alcoholic beverages, alcoholic beverages and tobacco, and recreation and culture - witnessed an increase of about 50 per cent.

Additionally, prices rose by 4.3 per cent in February compared to January, which is the highest rate since October's 4.7 per cent.

The Pakistani government is currently implementing belt-tightening measures, increasing tax revenues, and allowing the rupee to depreciate as it strives to secure more than USD 1 billion in funding from the International Monetary Fund (IMF), Dawn reported.

Meanwhile, the Pakistan rupee plunged by nearly Rs 19 against the US dollar Thursday ahead of the central bank's monetary policy review and amid concerns over a stalled IMF deal, reported Geo News.

The rupee slumped by Rs 18.98 or 6.66 per cent to close at 285.09 against the dollar in the interbank market as per the State Bank of Pakistan (SBP), down from yesterday's close of Rs 266.11.

Mustafa Pasha, chief investment officer at Lakson Investments, said: "Inflation is expected to continue rising in the months ahead as IMF-mandated structural adjustments and currency devaluation filter through the supply chain."

Also, following a historic decline of the Pakistani rupee against the US dollar, the per tola gold price in Pakistan surged by a whopping 4.77 per cent as investors' attention once again diverted towards the precious commodity considered as an inflation hedge, reported Geo News.

With inputs from ANI

More For You

Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less
Rachel Reeves

'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.

Getty Images

Reeves signals possible changes to business property taxes ahead of budget

CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.

Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.

Keep ReadingShow less