Pakistan's Inflation Reaches Record High of 38%
Pakistan's annual inflation rose to a record 37.97% in May, the highest in South Asia, with alcoholic beverages and tobacco witnessing the highest year-on-year increase of 123.96%. The country is facing a major economic crisis due to high external debt, a weak currency, and dwindling foreign exchange reserves, along with a global energy crisis and devastating floods. The inflation badly affects poor and middle-class families, with food items like potatoes, wheat flour, tea, wheat, eggs, and rice seeing the highest price rise.