Inflation hits nine-year low at 2.4pc
The annual inflation maintained a decelerating trend, hitting a nine-year low at 2.4 per cent year-on-year in January, mainly due to a decline in prices of perishable food products. The headline inflation, measured by the Consumer Price Index (CPI), decreased to 9.6pc in August 2024, the first single-digit figure in more than three years, and the path of slowing down continued in the following months, according to data released by the Pakistan Bureau of Statistics on Monday. However, there is a rising trend in the prices of sugar, vegetables and edible oils in the domestic market despite declining prices in the international market. The government has allowed sugar exports, especially to Afghanistan, on the plea of surplus stock. The CPI inflation surged above 10pc in November 2021 and remained in double digits for 33 consecutive months until July 2024. In between, it peaked at 38pc in May 2023, driven by unprecedented food and energy prices.