Pakistan, with hyperinflation taking the country by storm, has secured its position as the fourth most expensive country in the world. Pakistan ranked fourth out of 43 countries in the world in terms of inflation, with the rate of inflation marked at 9 per cent in September 2021.
India, on the other hand, ranked 16th with an inflation rate of 4.3pc. Per the report, the highest inflation around the world is in Argentina where the inflation rate is currently at 51.4%. Turkey ranks second with a 19.6% inflation rate, followed by Brazil with 10.2%.
On the other hand, inflation in Japan is -0.4%.
In Pakistan, September saw an exhuberant increase in the prices of consumer items as inflation edged up to 9pc from 8.4pc in August. The change was reflected in data released by the Pakistan Bureau of Statistics (PBS) on October 1.
On a month-on-month basis, inflation increased by 2.1pc owing to significant changes in three indices — food, housing, and construction.
The government has set the average inflation target for the ongoing fiscal year at 8.5pc, indicating that the year-on-year inflation may remain in double digits in the fiscal year 2021-22.
