Pakistan has been struggling with inflation for several years now, and a recent survey conducted by Gallup Pakistan has revealed the extent to which it is affecting the population. The survey found that over 91% of Pakistanis are under stress due to rising inflation. This figure shows that 9 in 10 Pakistanis said inflation is creating stress in their lives.
The survey was conducted in March 2023 and included a sample of 1,000 Pakistanis from across the country. The results show that the majority of Pakistanis are feeling the impact of inflation on their daily lives. The rising cost of living is making it difficult for people to meet their monthly expenses, with many struggling to put food on the table and pay for basic necessities.
The effects of inflation are being felt across all segments of society, with both urban and rural areas reporting high levels of stress. The survey found that the highest level of stress was reported in Punjab, followed by Sindh and Khyber Pakhtunkhwa.
The government has been struggling to contain inflation, with the cost of goods and services continuing to rise at an alarming rate. Experts say that the situation has been exacerbated by the COVID-19 pandemic, which has led to disruptions in global supply chains and increased the cost of imports.
“Today, I measure Pakistan’s inflation rate at a stunning 62%/yr. Pakistan is in an economic death spiral,” senior professor of Applied Economics Steve Hanks tweeted. The tweet has garnered attention online and has been shared widely on social media, with many Pakistanis expressing their concerns about the state of the economy.
The government has taken steps to address the issue, including raising interest rates and introducing price controls on essential goods. However, these measures have not been enough to stem the tide of inflation, and many Pakistanis are calling for more action to be taken.
Inflation is not just a problem for individual households but also for businesses, which are struggling to stay afloat in a challenging economic environment. Small and medium-sized enterprises (SMEs) are particularly vulnerable, with many facing bankruptcy due to rising costs and declining sales.
The government has announced a package of measures to support SMEs, including low-interest loans and tax incentives. However, many businesses say that these measures are not enough and that more needs to be done to support them during this difficult time.
The survey results show that inflation is a major concern for Pakistanis, and it is having a significant impact on their lives. The government needs to take urgent action to address the issue and provide relief to those who are struggling to make ends meet.
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In conclusion, the Gallup Pakistan survey results reveal the extent of the stress that inflation is causing for the Pakistani population. The rising cost of living is making it difficult for people to meet their basic needs, and businesses are also struggling in this challenging economic environment. The government needs to take urgent action to address the issue and provide relief to those who are most affected by inflation.
