The Ministry of Finance predicted that inflation would be between 12% and 13% in July and between 11% and 12% in August, with optimism that single-digit rates would be reached. These projections were made public on Tuesday in the form of a monthly economic forecast.
“The primary fiscal account (Jul-May) surplus, the negligible current account deficit, the stable exchange rate, and declining inflation all contributed to the economy’s move towards stability in FY2024,” the finance ministry stated in its Monthly Economic Update and Outlook.
The central bank, which lowered rates this week for the second time in a row after previously soaring inflation was moderated, would be keenly observing inflation numbers that the Pakistan Bureau of Statistics (PBS) is expected to announce on Thursday.
