Inflation in Pakistan hits six-and-a-half-year low

Karachi: Inflation in Pakistan has dropped to its lowest level in six and a half years, according to the latest data from the Pakistan Bureau of Statistics (PBS).

In November 2024, the inflation rate was recorded at 4.9%, marking the lowest figure in 78 months. On a monthly basis, inflation showed a decrease compared to October 2024, when the rate stood at 7.2%.

Over the first five months of the fiscal year (July to November 2024), the average inflation rate was recorded at 7.88%.

The statistics body highlighted that the inflation rate for the same period last year was much higher, with a cumulative rate of 28.62% in November 2023.

In urban areas, inflation was recorded at 5.2% in November 2024, while in rural areas, it stood at 4.3%. This represents a slight increase of 0.5% compared to the previous month.

However, certain essential items saw price hikes in November. According to PBS, the prices of tomatoes, eggs, mung beans, honey, and potatoes rose during the month. Additionally, ghee, butter, dry fruits, fish, and cooking oil also became more expensive.