Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
Islamabad (News Desk) The Department of Statistics has said that the rate of inflation in the country has fallen to the lowest level in four years.
According to a spokesperson for the Department of Statistics, the inflation rate in September 2024 was recorded at 6.9 per cent, while the inflation rate in August 2024 was 9.6 per cent.
Mohammad Sohail, CEO of Topline Securitators, said that due to the State Bank’s strict measures against dollar money laundering, the annual inflation rate has decreased.
According to the Statistics Office, a decrease of 0.5 percent was seen in the monthly inflation rate.
Experts attribute the slowing inflation trend to several key factors, including a higher base effect, lower global commodity and energy prices, and a stable exchange rate.
It should be noted that the statement of the Department of Statistics came at a time when Optima group leader and former federal caretaker Gohar Ijaz had said yesterday that inflation has been brought under control, there is a need to increase exports due to the fall of the Pakistani rupee.
A four year history of inflation
At the time of the July 2018 elections, the inflation rate was 3.7 per cent. Which increased to 5.2% during the first two months of Imran Khan’s government ie until September 2018. But then from February 2019, inflation started to increase. This was the time when there was a delay in approving the IMF program for Pakistan. In July 2019, when the IMF finally approved the loan, Pakistan’s inflation rate had reached 8.4 percent.
Inflation reached 14.6 per cent by January 2020 but has since fallen. By January 2021, it had risen again to 5.7 per cent. But from the next month, he raised his head again. When Imran Khan’s government ended in April 2022, inflation was at 13.4 percent.
Due to the political crisis in the country and the incompleteness of the IMF program, inflation increased suddenly. Inflation reached a record high of 38 percent in May 2023 under the PDM government.
After that inflation came down. When general elections were held in Pakistan in February 2024, the rate of inflation was 23.1 percent.
After the elections, the pace of inflation slowed. For the first time in August, inflation reached single digits and was recorded at 9.6 percent.
Read more: 4 members of the National Assembly including PTI’s Chaudhry Usman have met the government, claims PML-N official.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://dailyausaf.com/pakistan/2024/10/01/63629/
