ISLAMABAD –Pakistan where inflation rate was recorded at 4.30 percent in December of 2014 has been ranked as the third cheapest country to live in, as per the Cost of Living Index for Countries 2015.
As the cheapest country, India secured the first position and Nepal as the second cheapest country while Pakistan was at third position.
As Afghanistan was not included in the list, Switzerland, Norway and Venezuela are the most expensive countries respectively. Bangladesh is ranked as the 11th most cheapest country to live in.
Inflation Rate in Pakistan averaged 8.02 percent from 1957 until 2014, reaching an all time high of 37.81 percent in December of 1973 and a record low of -10.32 percent in February of 1959. In Pakistan, most important categories in the consumer price index are food and non-alcoholic beverages (35 percent of total weight); housing, water, electricity, gas and fuels (29 percent); clothing and footwear (8 percent) and transport (7 percent).
It also includes furnishings and household equipment (4 percent), education (4 percent), communication (3 percent) and health (2 percent). The remaining 8 percent is composed by recreation and culture, restaurants and hotels, alcoholic beverages and tobacco and other goods and services.
