In its monthly economic report released on Wednesday, the finance ministry predicted that inflation would decrease to 5.8%–6.8% in November and then rise to 5.6%–6.5% in December.
“By December 2024, inflation is anticipated to further decline to 5.6% to 6.5%,” the Finance Division stated in its Monthly Economic Update and Outlook.
In an effort to boost a flagging economy in the face of a significant decline in inflation, the central bank lowered interest rates by 250 basis points earlier in November.
According to figures from the Pakistan Bureau of Statistics (PBS), inflation was somewhat more than 6.9% in September 2024 but fell precipitously to 7.2% in October from a multi-decade peak of almost 40% in May 2023.
“The sowing of the wheat crop is underway on the agricultural front.”
