Country’s inflation eases to 10.9pc in May
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) led government’s economic policies bearing fruit as the country’s inflation rate eased to 10.9 per cent in May as compared to 11.2 per cent in April, ARY News reported.
According to the details, the CPI during the month of May came to 10.9 per cent as compared to 11.2 per cent a month earlier, which is a clear sign of easing in inflationary pressures.
It is pertinent to mention here that the food inflation has also started to decline. In urban areas, month-on-month food inflation come down from 2.7% in April to 1.1% in May. Similarly, in rural areas, food inflation dropped from average of 14.1% in April to 12.8% in May.
Read More: Inflation on the rise in Pakistan: PBS
Similar trends are also witnessed in core-inflation. Both in rural and urban areas, year-on-year core-inflation declined from 7% to 6.8% and from 7.7% to 7.6% respectively.
The SPI inflation has also declined by 0.63% compared to a week earlier. Similarly, the year-on-year SPI inflation has also come down from 17.23% to 16.34%.
As per the data, prices of 10 items decreased in the week compared to the last week, while 29 remained stable, and for 12 commodities witnessed increase. Prices of essential commodities such as tomatoes, potatoes, ghee etc. have either witnessed decrease for the past 6 weeks or have remained stable. However, the most notable reduction is seen in the prices of chicken and eggs.