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Pakistan fourth most expensive country in the world: Economist

21 اکتوبر 2021
The food inflation in rural areas remained unchanged from the previous month. File Photo
The food inflation in rural areas remained unchanged from the previous month. File Photo

The well reputed Economist magazine on Wednesday released the list of most expensive countries in which Pakistan ranked fourth out of 43 countries in terms of inflation.

The list has been compiled looking at the trajectory of inflation.

Argentina ranks as the most expensive country with 51.4% inflation, Turkey the second with 19.6% inflation, and Brazil with 10.2%.

Pakistan is fourth, and India as 16th.

According to the report the inflation rate in Pakistan is currently calculated at 9%. Considering the living standard Japan is able to give its citizens, the inflation rate being -0.4%, the report revealed.

Pakistan Bureau of Statistics calculated an 8.4% inflation rate for the month of August in the data they released in October. It has now risen to 9% even though the government set the target for the ongoing fiscal year 2021-2022 at 8.5%.

According to the data by PBS, the inflation rate had increased for both urban and rural areas. In September, inflation was recorded at 9.1% for urban areas and 8.8% for rural. Specific to food, the inflation in urban areas rose to 10.8%.