Pakistan: The small sandwich offers “value” to Pakistani customers, a Subway representative told Bloomberg News on Wednesday. The item first appeared on Pakistani menus and social media posts last month without any notice. The six-inch and 12-inch sandwiches are the chain’s two primary menu items.
Battling Double-Digit Inflation
With double-digit percentage rises fueling a cost-of-living catastrophe in the nation of roughly 250 million people, Pakistan is experiencing Asia’s fastest inflation. Many eateries have raised their rates or cut back on serving sizes in an effort to combat the spiralling cost. Although Pakistan‘s headline inflation rate decreased in August for the third consecutive month to 27.38% on an annual basis, “it’s not likely to last,” according to Ankur Shukla, a South Asia analyst at Bloomberg Economics, who wrote on Wednesday. Additionally, the price of food increased by 38.5% from a year ago.
Weakening Rupee and Import Costs
“Price gains are set to pick up again as a weaker rupee drives up import costs and the government increases prices for fuel and utilities to meet the International Monetary Fund’s aid terms,” according to Shukla, who anticipates inflation to average 30% in the final four months of this year. Pakistan was prevented from defaulting earlier this year after winning an additional $3 billion in IMF bailout funds. As a result of the deal’s strict conditions, including a rise in fuel and energy prices, there have been widespread protests as people seek an end to the rising cost of electricity.
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