Pakistan’s headline inflation clocked in at 11.1% on a year-on-year basis in July 2024, said Pakistan Bureau of Statistics (PBS). This is the lowest CPI figure since November 2021 when it stood at 11.5%, the report said. On a month-on-month basis, CPI inflation increased by 2.1% in July 2024 as compared to rise of 0.5% last month. The PBS said CPI inflation urban clocked in at 13.2% on year-on-year basis in July 2024, as compared to an increase of 14.9% in the previous month and 26.3% in July 2023. On month-on-month basis, it increased to 2.0% in July 2024 as compared to an increase of 0.6% in the previous month and an increase of 3.6% in July 2023. CPI inflation rural increased to 8.1% on year-on-year basis in July 2024 as compared to an increase of 9.3% in the previous month and 31.3% in July 2023. On month-on-month basis, it increased to 2.2% in July 2024 as compared to an increase of 0.3% in the previous month and an increase of 3.3% in July 2023. The Asian Development Bank in its reported, released last month, predicted a 7% decrease in Pakistan’s debt volume. According to the report, the debt volume is expected to decrease from 77% to 70% of the country’s GDP. The report also states that 62% of Pakistan’s revenue will be spent on debt repayment in the current fiscal year. Additionally, the report predicts that inflation will remain high in Pakistan in the current fiscal year.
Pakistan inflation slows to three-year low
Pakistan’s headline inflation clocked in at 11.1% on a year-on-year basis in July 2024, said Pakistan Bureau of Statistics (PBS). This is the lowest CPI figure since November 2021 when it stood at 11.5%, the report said. On a month-on-month basis, CPI inflation increased by 2.1% in July 2024 as compared to rise of 0.5% […]
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