An undated image showing calculator, spoon and potato to represent the inflation. — Pixabay
A decrease of 6.9% year on year (YOY) took place this September in the Consumer Price Index (CPI), marking a 44-month low record, according to the Pakistan Statics Bureau (PBS) on Tuesday.
The development happened when the consecutive decline in the aggressive interest rate was cut on June 10 by the Monetary Policy Committee (MPC) to make the inflation go down to the medium-term target of 5-7 per cent by September 2025.
Mohammad Sohail, Chief Executive of Topline Security, claimed that the ease in inflation became possible only after the relief in the policy rate.
He also declared that the SBP achieved its target of making inflation go down by 7%.
The CPI had decreased to 9.6 per cent in the previous month, the inflation clock finally at a single digit for the first time after about 34 months.
The current statistical data shows another milestone when the CPI marked a 44-month low budget income compared to 31.4 per cent in September 2023.
Month after Month the inflation had been recorded with a slight decline of 0.5% till September as compared to the data being 0.4 percent in August.
The data showed that the declining rate for the ratio was 2.0 per cent in September of last year.
On September 28, the Ministry of Finance issued a statement that the monthly outlook for the economic indicators showed pleasantly positive developments during the first two months of the fiscal year 2025 and “inflation is expected to remain within the range of 8pc to 9pc in September and October.” “This trajectory is expected to continue in the coming month,” he added.