The Ministry of Finance has reported that inflation in December 2024 fell to its lowest level in 80 months.
According to Express News, official data reveals that inflation for the first half of the fiscal year 2024 stood at 7.2%, a sharp decline from 28.8% in the same period last year. December’s inflation rate was recorded at 4.1%, the lowest in over six years.
The report attributes this decline to factors such as exchange rate stability, fiscal discipline, and improved supply chains. Additionally, the government’s strict crackdown on illegal foreign exchange operations, smuggling, and hoarding has positively impacted the economy.
As per the Ministry of Finance, the Sensitive Price Indicator (SPI) has shown a continuous decline in the last four weeks of January 2025. In the week ending January 23, 2025, the SPI recorded a 0.77% decrease.
Among 51 essential items, prices dropped for 12, increased for 14, and remained unchanged for 25.
The Economic Coordination Committee (ECC) took notice of the sharp rise in prices of pulses and chicken in November 2024. Following government interventions, the price of chickpeas fell by Rs 52.5 per kg, moong dal by Rs 37.4 per kg, chicken by Rs 20.1 per kg, and a 20 kg flour bag by Rs 1022.2.
Over the past four weeks, there has been a significant decline in the prices of tomatoes, potatoes, pulses, eggs, and LPG.
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According to the Federal Bureau of Statistics, the government’s policy measures, administrative actions, and relief initiatives have effectively controlled inflationary pressures.