Pakistan’s Inflation Rate to Drop Again

News Desk3 weeks ago

The research states that in May, the nation’s inflation rate is predicted to stay between 13.5% and 14.5%.

According to the ministry of finance, the economy is beginning to revive.

Additionally, the report stated that formal talks for a new three-year loan program have started with the International Monetary Fund (IMF). The research states that the IMF lending program is essential for stable policy.

The ministry anticipates a rise in foreign investment as a result of the loan scheme.

According to the data, there has been a 6.25% increase in agricultural production this year. The finance ministry stressed that maintaining policy consistency is crucial for maintaining economic stability.

The Sensitive Price Indicator (SPI) showed a sixth consecutive weekly decline in inflation for the combined consumption group during the week that concluded on May 23. This decline was 0.34 percent.

Twelve (23.53 percent) of the 51 items had price increases during the week, 18 (35.29 percent) had price decreases, and 21 (41.18 percent) had unchanged prices.

Read more:Pakistan Middle Class Devastated by Hyperinflation

Beef with bone (0.49 percent), pulse gram (0.42 percent), tea prepared (0.30 percent), mutton (0.25 percent), gur (0.22 percent), curd (0.11 percent), fresh milk (0.06 percent), and pulse mash (0.01 percent) are a few of the commodities whose prices increased during the review period.

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