Pakistan’s poor suffer as surging inflation pushes up price of most consumer goods

South China Morning Post published this video item, entitled “Pakistan’s poor suffer as surging inflation pushes up price of most consumer goods” – below is their description.

The cost of nearly everything in Pakistan has been soaring due to inflation, leaving the poor in even more desperate straits. Pakistan’s Consumer Price Index Inflation Rate rose to 13.8 per cent in May 2022, the highest in two and a half years. Economists fear that rising inflation will push many in the lower income group and lower middle class into poverty. High global commodity prices and increased imports are fuelling inflation in Asia, including in Pakistan.

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About This Source - South China Morning Post

The South China Morning Post (SCMP), with its Sunday edition, the Sunday Morning Post, is a Hong Kong-based English-language newspaper founded in 1903. It is Hong Kong’s newspaper of record, owned by Alibaba Group.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: Pakistan

Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It has a population exceeding 212.2 million, including the world’s second-largest Muslim population. It has an area of 881,913 square kilometres (340,509 square miles).

Pakistan has a 1,046-kilometre (650-mile) coastline along the Arabian Sea and Gulf of Oman in the south and is bordered by India to the east, Afghanistan to the west, Iran to the southwest, and China to the northeast. It is separated narrowly from Tajikistan by Afghanistan’s Wakhan Corridor in the northwest, and also shares a maritime border with Oman.

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