The country has witnessed a reduction in the inflation rate for the second consecutive week, signalling a positive trend in the country's economic landscape.
According to data released by the Pakistan Bureau of Statistics, the inflation rate has decreased by 1.10% within a week. The overall annual inflation rate now stands at 26.94%, showcasing a steady decline from previous levels.
In a detailed breakdown of the inflation figures, it is reported that while certain commodities have witnessed price hikes, the overall inflation rate has seen a noteworthy decrease. For instance, the price of potato per kilogram has increased by Rs1.40, and dry milk by Rs10.39 per 390 grammes.
Similarly, branded vegetable ghee has seen a price hike of Rs3.5 per kg, with daal maash and sugar also experiencing upward price movements of Rs4 per kg and 87 paisas, respectively.
Despite these isolated price increases, the overall inflation rate has reached its lowest level in 31 weeks. In April alone, the inflation rate plummeted to 26.9%, which saw a peak of 44.6% in January 2024.
Commenting on the recent developments, brokerage house Topline Securities acknowledges the significant decrease in the inflation rate. It attributed this downward trajectory in inflation to a combination of factors, including a drop in demand following Ramazan.
