The Ministry of Finance has stated that the inflation rate in December dropped to its lowest level in 80 months.
According to media reports, the statistics released by the Ministry of Finance show that the inflation rate for the first six months of the fiscal year 2024 stood at 7.2%, compared to 28.8% last year.
In December 2024, the inflation rate was recorded at 4.1%, marking the lowest level in 80 months.
The report highlights that the stability of the exchange rate, fiscal discipline, and improved supply chains have played a significant role in reducing inflation. Furthermore, the government’s strict actions against illegal foreign exchange companies, smuggling, and hoarding have had a positive impact on the economy.
According to the Ministry of Finance, the Sensitive Price Indicator (SPI) has shown a continuous decline in the last four weeks of January 2025. In the week ending January 23, 2025, the SPI recorded a 0.77% decrease.
The data further revealed that of the 51 items, 12 saw a decrease in prices, 14 experienced price increases, while 25 items remained stable.
The Economic Coordination Committee (ECC) had taken notice of the extraordinary increase in the prices of pulses and chicken in November. Following government actions, the price of chickpeas decreased by Rs 52.5 per kg, while the price of moong dal dropped by Rs 37.4 per kg.
The price of chicken decreased by Rs 20.1 per kg, and the price of a 20 kg flour bag dropped by Rs 1022.2. In the last four weeks, there was a significant reduction in the prices of tomatoes, potatoes, pulses, eggs, and LPG. According to the latest figures released by the Federal Bureau of Statistics, the government’s policy measures, administrative actions, and relief steps have effectively helped control inflationary pressures.