The Department of Statistics has claimed an extraordinary reduction in the rate of inflation, the rate of increase in inflation was 17.3 percent in April, while Prime Minister Shehbaz Sharif declared the decrease in inflation as good news for the people and indicated further reduction in the price of petrol. gave
In a statement released by the Prime Minister’s Office, Prime Minister Shehbaz Sharif said that the lowest level of inflation in 2 years is a sign of economic improvement. are
The prime minister said that the rate of inflation has come down from 39 percent to 20 percent and now to 17 percent. Reduction in inflation is the first goal. With the grace of Allah, people will get more relief in economic activities.
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Shahbaz Sharif further said that the reduction in petrol prices will also give relief to the people as the prices of oil have come down in the global market.
Prime Minister Shehbaz Sharif directed that the provincial governments should take steps to reduce the prices of petroleum products and ensure the implementation of the official prices of food items.
According to the Bureau of Statistics, the rate in urban areas decreased by 0.1 percent, while the rate of inflation in urban areas was recorded at 19.4 percent.
According to the Institute of Statistics, fish became more expensive by 2.49% and potato by 2.29%, and the price of meat increased by 1.94% and dry milk by 1.34%. Apart from this, onion became cheaper by 15.58% and vegetables by 11.98% in one month.
According to the report, the price of wheat decreased by 10.44% in one month and flour became cheaper by 9.67% and tomatoes by 6.23%.
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According to the statistics agency, marriage hall charges, shoes, clothes, motor faisal became expensive while education services, transport services, house rents increased in one month.
It should be noted that earlier the World Bank and the IMF had predicted that the inflation rate in Pakistan this year will be more than 20 percent while in 2025 this rate will decrease to 15 percent.
At the beginning of last month, the World Bank predicted a decline in inflation next year. The World Bank had predicted the inflation rate to be 26 percent in the current fiscal year, 15 percent in fiscal year 2025, and 11.5 percent in fiscal year 2026.
Later in mid-April, the IMF projected a significant drop in inflation to 12.1 percent in the next fiscal year, with unemployment at 8 percent this year and 7.5 percent next year.
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2024-05-03 21:23:53