The relentless rise in prices of essential goods and services is deeply affecting the daily lives of ordinary citizens and demands immediate attention from both the government and policymakers.
Inflation erodes purchasing power and creates financial instability, especially for the marginalized segments of society. It impacts not only basic necessities like food, healthcare, and education but also impedes economic growth by dampening consumer spending and hindering investment. The major problem remains there in the form of big borrowing by the government.
While global factors such as fluctuating oil prices, food and supply chain disruptions contribute to inflation, there is a pressing need for the government to implement effective domestic policies. Strengthening agriculture, improving infrastructure, and fostering a conducive business environment can help mitigate inflationary pressures.
Furthermore, inflation rate in Pakistan averaged percent from 1957 until reaching all time high of 37.97 percent in 2023. In conclusion, the rising inflation in Pakistan is a matter of serious concern that warrants prompt action. It’s imperative for the government, policymakers, and relevant authorities to work collectively to address the root causes of inflation and ensure a stable economic environment for all citizens.