The headline inflation rate in Pakistan decreased from 9.6% in August to 6.9% in September 2024, as to statistics issued on Tuesday by the Pakistan Bureau of Statistics (PBS). The consumer price index (CPI) measurement is at its lowest point since January 2021.
“Due to aggressive monetary tightening, the State Bank of Pakistan (SBP) has successfully reduced inflation below the one-year target of 7% ahead of schedule,” stated Mohammed Sohail, CEO of Topline Securities.
In September 2024, the CPI decreased by 0.5% month over month, in contrast to a 0.4% gain in the month before and a 2.0% increase in September 2023.
Experts credit a number of variables, such as a stable exchange rate, a large base effect, and declining global commodity and energy prices, for the drop in inflation.
