{"id":50645,"date":"2024-10-01T17:19:26","date_gmt":"2024-10-01T12:19:26","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=50645"},"modified":"2024-10-01T17:35:29","modified_gmt":"2024-10-01T12:35:29","slug":"pakistans-inflation-rate-drops-to-44-month-low-in-september-2024","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/featured\/pakistans-inflation-rate-drops-to-44-month-low-in-september-2024\/","title":{"rendered":"Pakistan’s inflation rate drops to 44-month low in September 2024"},"content":{"rendered":"

ISLAMABAD: Pakistan’s headline inflation<\/a> has taken a significant dip, registering at 6.9% year-on-year in September 2024, down from 9.6% in August. This marks the lowest consumer price index<\/a> (CPI) reading since January 2021, a remarkable achievement for the country’s economy.<\/p>\n

The decline in inflation is attributed to several factors, including a high base effect, decreasing global commodity and energy prices, and a stable exchange rate.<\/p>\n

Mohammed Sohail, CEO of Topline Securities, noted that the State Bank of Pakistan’s<\/a> (SBP) aggressive monetary tightening has successfully brought inflation below the one-year target of 7% ahead of schedule.<\/p>\n

On a month-to-month basis, the CPI fell by 0.5% in September 2024, contrasting with a 0.4% rise in the previous month and a 2.0% increase in September 2023.<\/p>\n

This downward trend is a positive sign for Pakistan’s economy, indicating that the measures taken by the SBP are yielding the desired results.<\/p>\n

The Pakistan Bureau of Statistics (PBS)<\/a> released the data on Tuesday, providing a boost to the country’s economic outlook. Experts predict that this decline in inflation will have a positive impact on the overall economy, potentially leading to increased consumer spending and economic growth.<\/p>\n

Moreover, Pakistan has seen a significant drop in food prices, bringing relief to consumers. According to the Federal Bureau of Statistics, essential items like tomatoes, vegetables, and fruits have become cheaper by 24.34%, 18%, and 4.49% respectively in September.<\/p>\n

Wheat flour prices also decreased by 5.53%, with wheat itself becoming 4.46% more affordable. Pulses like daal masoor and daal mash saw price reductions of 4% and 2.67%.<\/p>\n

However, some food items experienced price hikes. Gram prices rose by 15% in urban areas, pulses by 13.48%, and eggs by 7.33%. Other notable increases include white gram (5%), onions (5%), spices (3.32%), and ready-made food items (2.54%). Meat and potatoes also became costlier, with price hikes of 2.37% and 1%.<\/p>\n

On an annual basis, food prices declined by 0.59%, but perishable food items saw a 20.37% increase. Non-food items also exhibited price increases, with clothing and footwear surging by 15.52%, housing, water, electricity, and gas costs rising by 20.86%, and health services increasing by 13.69%.<\/p>\n

Despite these increases, there’s some relief in transport fares, which decreased by 7.26% over the same period. However, hotel and restaurant charges rose by 9.14%, contributing to inflation in the services sector.<\/p>\n

This drop in inflation is a welcome change for the public and the government, which has faced pressure to stabilize prices amidst global market fluctuations and economic challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: Pakistan’s headline inflation has taken a significant dip, registering at 6.9% year-on-year in September 2024, down from 9.6% in August. This marks the lowest consumer price index (CPI) reading since January 2021, a remarkable achievement for the country’s economy. The decline in inflation is attributed to several factors, including a high base effect, decreasing […]<\/p>\n","protected":false},"author":9,"featured_media":50646,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,13446],"tags":[3593,599,12475,22537,22538],"class_list":["post-50645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","tag-consumer-price-index","tag-state-bank-of-pakistan","tag-inflation-rate-in-pakistan","tag-pakistan-bureau-of-statistics-pbs","tag-topline-securities"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/50645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=50645"}],"version-history":[{"count":3,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/50645\/revisions"}],"predecessor-version":[{"id":50656,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/50645\/revisions\/50656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/50646"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=50645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=50645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=50645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}