Consumer inflation slightly eased to 10.9 percent in May from 11.1 percent in April, released by the Pakistan Bureau of Statistics (PBS).
At the start of the current fiscal year, the rate of inflation was 9.3% which slightly came down in the next month but again to touch the figure of 8.2%. It again moved up and showed the figure of 9%. From September to January, people of the country had some relief due to the downward trend of the food items as the rate of inflation continuously moved down.
In the month of January, the inflation rate was 5.7%. From March this year in 2021, the trend of inflation started moving upwards and the prices of certain food items and energy prices became responsible for this upward movement of inflation. The prices of food items have been the main cause of the continuous increase of inflation in the country.
Pakistan consumer inflation rate rose to 11.10% in April
In urban areas, the rise in prices of food items was at the rate of 15.7% year-on-year basis and 2.7% month-on-month basis in April. In rural areas, the rate of price hike was 14.1% year-on-year basis and 0.9 % month-on-month basis. In the month of April, the rate of consumer inflation was 11.1%.
According to the data, released by the Pakistan Bureau of Statistics on Tuesday, it came down slightly and touched the figure of 10.9%
Meanwhile, in May, the inflation rate was in the single figure at the beginning of this year but it has been constantly touching the double-figure despite the efforts of the government to bring it down as during the current fiscal year, from July to March, 3.612 million tons of wheat has been imported as against the zero import of the same last year.
Moreover, 279,529 tons of sugar were also imported during the same period as compared to 4,751 tons during the same period last year. The average price Index from July to May eased from 10.94% last year to 8.8 % this year. It has been estimated that the rate of inflation will remain between 7% to 9% during the next fiscal year.