Inflation plunges to 34-month low at 9.6pc in August: Pakistan Bureau of Statistics

Islamabad: The inflation in the country fell to a 34-month low to settle at 9.6 per cent in August year-on-year (YoY), the Pakistan Bureau of Statistics (PBS) data showed on Monday. 

According to the PBS, the Consumer Price Index (CPI) general inflation jumped to 9.6pc on YoY in August 2024 as compared to an increase of 11.1pc in the previous month and 27.4pc in August 2023.

The monthly inflation rate remained 0.39pc, the PBS said. The data further showed that urban inflation soared by 11.7pc while rural inflation upped by 6.7pc in August.

In July, inflation had jacked up to 11.1pc on a YoY basis as compared to an increase of 12.6pc in the month of June and 28.3pc in July 2023. In May, it had hit 11.8pc — a 30-month low.

The finance ministry had stated that it expected inflation in August to range between 9.5pc and 10.5pc in the monthly economic outlook released on Friday.