Pakistan’s inflation hits 6.5-year low in Dec. ’24

Pakistan’s consumer inflation rate decreased to 4.1 per cent year on year in December, as reported by the statistics bureau on Wednesday, marking the lowest rate in over 6.5 years.

The statistics report showed that consumer prices increased by 0.1 per cent in December compared to the previous month.

The South Asian nation is facing a difficult economic recovery journey supported by a $7 billion facility from the International Monetary Fund (IMF) approved in September.

In November, annual inflation fell to 4.9 per cent, primarily because of a high base from the previous year. This was lower than the government’s prediction and a substantial drop from the peak of approximately 40 per cent in May 2023.

Attribution: Reuters

Subediting: Y.Yasser