Islamabad (TDI): Pakistan’s headline inflation dropped to its lowest level in 81 months, clocking in at 4.1 percent on a year-on-year- basis in December 2024, official numbers revealed on Wednesday.
The headline inflation had stood at 4.9 percent in the previous month.
According to the Pakistan Bureau of Statistics (PBS), the consumer price index (CPI) was recorded at 4.1% last month. This is a significant decline from 49% in June 2023 and 29.7% in December 2023.
Read More: Inflation in Pakistan Drops to Lowest in Five Years
The government said its “prudent economic policies” made it possible.
Similarly, the wholesale price index fell to 1.9% in December 2024, down from 2.3% in June and 27.3% in December of the previous year.
Key consumer items saw significant price cuts. For instance, chicken prices fell by 13.06%, fresh vegetables by 2.27%, flour by 0.99%, and rice by 0.50%, while wheat goods saw a decline of 0.36%.
Read More: 7.2 % CPI Inflation Reported for October
Similarly, the electricity tariff decreased by 5.68% and construction material prices fell by 0.06%.
Other significant price reductions included an 8.84% decline in fresh fruit prices, a 5.42% drop in banaspati ghee, a 4.39% drop in cooking oil, and a 2% drop in sugar costs. Pulses dropped 0.20% in price, while milk products fell 0.05%.
Internationally, Reuters has recognized the incumbent government’s efforts to reduce inflation through its impressive economic policies.
