In May, Inflation Rate Records A 3.24% Decline

In May, Pakistan witnessed a notable decrease in the inflation rate, with figures dropping by 3.24%, as per data released by the Pakistan Bureau of Statistics. Inflation eased to 11.76% for the month, marking a significant improvement compared to previous months. The average inflation rate from July 2023 to May 2024 stood at 24.52%.

Urban areas experienced a decrease of 2.80%, while rural areas saw a 3.89% reduction in inflation rates. Prices of various commodities fluctuated, with significant drops observed in tomatoes and onions by 51% in urban areas, along with reductions in live chicken and wheat prices by 35.28% and 20.17%, respectively. Conversely, prices increased for items like potatoes, meat, ghee, cooking oil, and dental services.

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Transport and medical facilities also saw price hikes, with transport costs rising by 3.3% and egg prices by 2%. Compared to the previous year, essentials like daal mash, sugar, dry milk, sweets, and daal masoor became more expensive by 22%, 19%, 22%, 16%, and 15%, respectively.

Expenses related to bakery items, gas, electricity, and transport have seen significant increases over the past year, with gas prices soaring by 318%, electricity by 59%, and transport by 32%.