Pakistan’s headline inflation clocked in at 9.6% on a year-on-year basis in August compared to 11.1% in the last month and 27.4% in August 2023, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Monday showed.
The inflation reading was back into single-digits after a span of three years, showed Pakistan Bureau of Statistics (PBS) data.
Back in October 2021, CPI inflation stood at 9.2%.
On a month-on-month basis, CPI increased to 0.4% in August 2024 as compared to an increase of 2.1% in the previous month and an increase of 1.7% in August 2023.
In its monthly economic outlook, the finance ministry had stated that it expects inflation in August to range between 9.5% and 10.5%.
“On the account of stability in economic indicators, inflation is expected to remain within the range of 9.5-10.5% in August and further decline to 9-10% in September 2024,” the Ministry of Finance said in its ‘Monthly Economic Update and Outlook’.
