Pakistan is a developing country with a lot of issues and challenges to look after. The current government is about to complete its 5 years tenure in May 2018. According to experts, inflation and pricing is considered to be a tool for consumer and Inhabitants’ satisfaction for any society. However, inflation and fuel prices have not gained great priority in mandate of current government. And therefore, a control on these went missing in these five years.
60 years of inflation
Inflation is measured by the consumer price index. It reflects the annual percentage change in the cost to the average consumer of purchasing a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.
During the last 60 years (1957-2017), Pakistan’s inflation rate was 7.80% on average. During this time it touched the highest at 37.81% in December 1973 and went down a record low of -10.32% in February of 1959.