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Pakistan Trending Now

Gradual Decrease in the Inflation Rate

Islamabad: The rate of inflation in the country has started gradually decreasing.

According to a report by a private TV channel, in October, the monthly inflation rate in the country remained at 1.1 percent, whereas from July to October, this rate was 28.48 percent for four months. On an annual basis, the inflation rate for October was 26.9 percent, while it was 31.4 percent in September. However, in October of the previous year, this rate was 26.6 percent.

The Federal Bureau of Statistics’ monthly report shows that in October, the monthly inflation rate remained at 1.1 percent. In September 2023, it was 2 percent, and in October 2022, it was 4.7 percent. On an annual basis, the inflation rate remained at 26.9 percent. From July to October, the average inflation rate was 28.48 percent. In urban areas, inflation was 25.5 percent, while in rural areas, it was 28.9 percent.

According to the statistics, last month, the prices of onions, vegetables, fruits, eggs, potatoes, fish, and spices increased. Electricity became 8.29 percent more expensive, marriage halls became 5.43 percent more expensive, and residential costs increased by 4.50 percent. Medicines became 3.72 percent more expensive, education 3.23 percent, and doctor’s fees 3 percent more expensive. During this time, sugar, lentils, tomatoes, mung beans, jaggery, and wheat flour became cheaper, while milk became more affordable.

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