Shaking Pakistani economy..! Inflation not seen in 47 years..!?

Sowmiya Sriram
Shaking Pakistani economy..! Inflation not seen in 47 years..!?
After the inflation in pakistan has increased to the highest level in the last 47 years, it has been reported that the prices have skyrocketed. It has been reported that the inflation in pakistan has been increasing continuously for the past six months and because of this, the people of the country are suffering due to the increase in prices. The economy of pakistan was in decline before the coronavirus. Economists are saying that this situation has reached a very bad level.
Pakistan's Inflation Hits Worst Level in August. Inflation is said to be at a 47-year low due to unprecedented heavy rains and floods in the country. It has been reported that due to this rain, many vegetables, especially onion, tomato, and paddy crops have been damaged and due to this the prices of food items have skyrocketed. According to reports, the price of pakistan has increased by 27.26% compared to last year and this price increase was 24.93% in July last year.
Inflation in pakistan is the worst since 1975, according to the country's central bank. Due to the floods in pakistan, more than a thousand human lives have been lost, but the country's economy is in a very bad state, especially since the agricultural industry is said to have been completely destroyed. It is said that due to the increase in inflation in pakistan, the price of petrol and diesel has skyrocketed and the people of the country are in dire straits due to the increase in electricity bills. In this situation, the international Monetary Fund has offered to provide financial assistance of $1.1 billion to pakistan, and it is said that this action will be of great help to pakistan, which is facing a great economic setback.
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