The finance ministry on tuesday released its monthly outlook for july stating that the consumer price index (cpi) inflation was heading towards single digits.
the cpi measures household inflation and includes statistics about price change for categories of household expenditure .
.jpg)
According to the pakistan Bureau of statistics CPI inflation reached 12 6 pc in june Although the reading is higher than the 11.8pc year -on-year rise in may 2024 it eased form a historic high of 38pc in may2023-a slowdown that has provided relief o for an economy beset by high inflation and low growth.
in june 2024 , cpi inflation reached teb cusp of the single digit range the report said adding it was recording at 12.6 per cent year YoY in june 2024 compared to 11.8 pc in the previous month and 29 4 pc in june 2023 .
the report also highlighted that the economy was moving towards stability in the fiscial year 2024 with decreasing inflation a surplus in the primary fiscial account july may a negligible current account deficit and a stable exchange rate.
the external account position improved due to contained imports resulting from prudent fiscal and monetary management while exports and remittance increased significantly it said.
the report added that the government recent $7 billion extended fund facility with the international monetary fund imf.
Would further strengthen stability Regarding sectors the ministry said that the agriculture sector had registered robust growth in the current fiscal year whereas large scale manufacturing is set to take off;.
expanding 1pc during july may in FY 2024 compared to last years contraction of 9.6Pc.
Comments
Post a Comment