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Killer inflation

Tuesday, May 31, 2022

Pakistan’s inflation rate reached 13.4 per cent in April 2022. It is expected that the figure will increase in May as well. Last week, the finance minister announced a hefty increase in petroleum prices. Petrol prices have increased by Rs30 per litre. This move is likely to have devastating effects on our economy, resulting in a new wave of rising inflation.

Petroleum prices have a direct effect on prices of items of daily use. The lower-middle and middle classes will be hit hardest by this price hike.

Mumraiz Khan

Karachi