Inflation falls to 34-month low at 9.6pc in August: PBS
Pakistan’s consumer price index (CPI) in August rose 9.6 per cent year-on-year (YoY), marking a 34 month-low, data from the Pakistan Bureau of Statistics (PBS) showed on Monday. The CPI measures household inflation and includes statistics about price change for categories of household expenditure. “CPI general inflation increased to 9.6pc on year-on-year basis in August 2024 as compared to an increase of 11.1pc in the previous month and 27.4pc in August 2023,” PBS said. The monthly inflation rate was 0.39pc, the PBS said. According to Karachi-based brokerage firm, Topline Securities, the reading for August “is at 34 months low”. “This takes 2MFY25 average inflation to 10.36pc compared to 27.84pc in 2MFY24,” it said in a comment. The data showed that urban inflation increased by 11.7pc while rural inflation increased by 6.7pc in August. Prime Minister Shehbaz Sharif expressed satisfaction over the single-digit inflation rate, attributing the achievement to the hard work of the government’s economic team.