Share:Pakistan’s economic outlook seems bleak as the inflation rate is expected to rise even higher in the coming months. The Consumer Price Index (CPI) has already recorded a record-high inflation rate for March, and it is projected to reach 36-38 percent in April. With a shortage in crop yield and ambiguous estimates for public food consumption, it is feared that food inflation and crisis may occur. To address the increasing inflation rate, the SBP implemented a contractionary monetary policy, including an increase in interest rates. With borrowings on the rise, an average inflation rate has been quoted as 20% for the next fiscal year.

Source: The Nation May 01, 2023 05:56 UTC