Pakistan’s annual consumer price inflation rate eased to 9.6% in August, marking the first time in almost three years that inflation has fallen into single digits, according to the Pakistan Bureau of Statistics (PBS) on Monday.
The Consumer Price Index (CPI) for August showed a significant slowdown, dropping from 11.1% in the previous month to 9.6% year-on-year. This marks a notable improvement for an economy that had been grappling with inflation rates exceeding 20% since May 2022. Inflation had reached a peak of 38% in May, driven by the economic reforms required under a crucial International Monetary Fund (IMF) bailout programme.
The recent decline in inflation provides some relief for Pakistan’s economy, which has been under considerable strain due to high living costs and economic challenges.
