Inflation eases slightly after federal budget

Islamabad: After announcement of the federal budget for the fiscal year 2024-25, the persistent surge in inflation has started to ease, with a 0.12% decline in the inflation rate recorded over the past week.

The Federal Bureau of Statistics' weekly inflation report revealed that the annual inflation rate is currently at 18.41%, showing a 0.12% decrease on a weekly basis.

The bureau report said that on a yearly scale, the cost of wheat flour dropped by 32%, cooking oil and ghee by 10%, eggs by 8% and chili by 7%.

Besides it, last week witnessed a reduction in electricity charges for consumption up to 200 units.

Over the past year, electricity costs for low-income households have been reduced by about 15%, primarily due to lower fuel price charges and fixed charges.

The Bureau's data also showed that, on an annual basis, the price of onions has surged by 86%, chickpeas by 42%, and dried milk by 32%. The cost of mung beans has risen by 30%, while garlic has become 28% more expensive.

In contrast, the gas charges have soared by 570%, and the price of clothing and footwear has increased by up to 25%.