Prime Minister Shehbaz Sharif has lauded a record decline in inflation to 4.9% after almost six-and-a-half years, expressing hope that the remarkable development will lead to further cuts in the key policy rate.
Beating official forecasts, Pakistan’s inflation slowed to 4.9% year-on-year in November 2024, down from 7.2% in October, marking its lowest level in six-and-a-half years, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.
“It is beyond imagination,” said the premier addressing a federal cabinet session in Islamabad on Monday, adding that inflation is a tool that can be used to improve the financial condition of the masses, while at the same the increase in inflation increases the hardship of poor people
