Pakistanis can expect some relief from rising prices as the inflation rate dipped by a significant 3.24% in May, according to data released by the Pakistan Bureau of Statistics. This brings the overall inflation rate down to 11.76%, a welcome improvement compared to previous months.
Pakistan saw a significant drop in its inflation rate this May, with a decrease of 3.24%, according to the Pakistan Bureau of Statistics. The inflation rate eased to 11.76%, showing a major improvement from previous months. From July 2023 to May 2024, the average inflation rate was 24.52%.
Urban vs. Rural
The report highlights differences between urban and rural areas:
- Cities: 2.80% decrease in inflation.
- Rural areas: 3.89% reduction.
Price Changes
Several key items became cheaper last month:
- Tomatoes and onions: Prices dropped by 51% in cities.
- Live chicken: Down by 35.28%.
- Wheat: Decreased by 20.17%.
- Wheat flour: Cheaper by 20.12%.
- Fruits and vegetables: Prices fell by 8%.
However, some items saw price increases:
- Potatoes: Up by 14.73%.
- Meat, ghee, and cooking oil: Slight increases of 4%, 1.27%, and 1.26%, respectively.
- Beverages and dry fruits: Prices surged by 24% and 23% over the past year.
- Transport and medical facilities: Increased by 3.3% and 2%.
Yearly Comparisons
Compared to the previous year, many essentials became more expensive:
- Daal mash: Up by 22%.
- Sugar: Increased by 19%.
- Dry milk and sweets: Both rose by 22%.
- Daal masoor: Up by 15%.
Inflation Rate Hikes
Certain services and utilities saw substantial price hikes:
- Gas: Prices soared by 318%.
- Electricity: Increased by 59%.
- Transport: Up by 32%.
Overall, the May inflation figures paint a positive picture for Pakistan’s economy. The significant decrease offers some respite to consumers and suggests that government policies and other factors might be contributing to a slowdown in price hikes.
Pakistanis are facing the worst inflated era of their lives right now. with the increasing prices of essential items, it has became difficult to run a standard house smoothly. This drop in the inflation rate is like the first drop of relief in almost two years. is this the start of a better upcoming day or this minor drop is just a hint for another massive hike….. Let’s wait and watch.
