Pakistan’s CPI inflation decreases to 5.65% in January

The Fundamentals of InflationPakistan’s Consumer Price Index (CPI) based monthly inflation rate decreased to 5.65% in January from 8% the previous month.

The news was disclosed by the Pakistan Bureau of Statistics (PBS) on Monday.

According to the PBS, a decrease in the prices of vegetables, pulses, eggs, spices, and chicken helped bring down the CPI.

The Urban CPI recorded a drop of 0.16%, while the Rural CPI recorded a decrease of 0.29%.

The average inflation rate from July-January (2020-21) was 8.1%, and food inflation at 13.79% over the year-earlier period.

A day earlier, the Prime Minister, Imran Khan, shared “more good news on the economic front” with the nation, referring to lowering core inflation and the CPI.

The premier took to Twitter to announce that the authorities’ efforts to bring down inflation were bearing fruit.

“More good news on the economic front. Our efforts to decrease inflation are now showing results. Consumer price index (CPI) and core inflation are both now lower than when our government was formed,” he said.

The Planning Minister, Asad Umar, also said on Twitter that inflation during January was down to 5.7%, while core inflation was at 5.4%, both lower than when the PTI government took over.

The IMF has forecasted the economy to grow 1.5% this year against the incumbent government’s target of 2.3% in the fiscal year 2020-21.

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