Inflation in Pakistan tumbled to 9.6% year-on-year in August 2024, denoting a huge decline from July's 11.1% and getting back to single-digit region first time in three years, as per stats from the PBS - Pakistan Bureau of Statistics.
The last time inflation rate was this low was in October 2021, when it remained at 9.2%.
On a month-on-month, the CPI - Consumer Price Index increased by 0.4% in August 2024, a more slow increment contrasted with the 2.1% increase in July 2024 and the 1.7% increment in August 2023. This figure is up to the mark with the Ministry of Finance’s forecast, which had forecasted inflation to go somewhere in the range of 9.5% and 10.5% for August in its month to month economic viewpoint.
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