Business
Inflation in Pakistan falls sharply, sets at 11pc
A fall of 3.24 percent in inflation was recorded in May on a monthly basis
Islamabad: The inflation in Pakistan dropped from 38 percent to 11.8 percent in a year.
According to the Bureau of Statistics, Consumer Price Index (CPI) inflation was recorded at 11.76 percent in May compared to April, while CPI inflation was 17.34 percent in April.
According to the report of the Institute of Statistics, the cost of electricity increased by 58.7 percent, transport service by 32.2 percent, cotton garments by 23.2 percent, onion by 86.6 percent, tomato by 55.4 percent and spices by 39.17 percent.
On the other hand, a fall of 3.24 percent in inflation was recorded in May on a monthly basis and the inflation in May 2024 reached 11.76 percent. The inflation in cities decreased by 2.80 percent and in rural areas by 3.89 percent in May, while the inflation rate from July to May remained at 24.52 percent.
According to the Institute of Statistics, in May, tomatoes, onions became cheaper by 51 percent, chicken by 35.2 percent and wheat by 22.7 percent, while liquid fuel became cheaper by 9.4 percent, electricity charges by 4.5 percent, motor fuel by 3.18 percent. In addition to this, potatoes by 14.73 percent and meat by four percent and beans went up by 3.9 percent.
The topline agency says that inflation has come down due to tight monetary and fiscal policies, while record agricultural production and a stable currency have also helped.