Islamabad (TDI): Pakistan’s headline inflation has dropped to its lowest level in the past five years, clocking in at 4.9 percent on a year-on-year- basis in November 2024, data released by the Pakistan Bureau of Statistics revealed on Monday.
The headline inflation had stood at 7.2 percent in the previous month.
On a month-on-month basis, the Consumer Price Index (CPI) increased by 0.5 percent in November 2024, compared to a 1.2 percent increase in October, and an increase of 2.7 percent in the corresponding month last year.
CPI inflation has averaged 7.88% during 5MFY25, compared to 28.62% in 5MFY24.
According to analysts at Topline Securities, this is “the lowest inflation reading in 78 months.
Earlier, the finance ministry, in its monthly outlook, predicted the inflation to hover around the 5.8-6.8% range in November and slow further to 5.6-6.5% by December.
“Inflation is expected to remain within the range of 5.8% – 6.8% in November, further receding to 5.6% – 6.5% by December 2024,” the Ministry of Finance had said in its ‘Monthly Economic Update and Outlook’.
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The PBS reported a decrease in urban consumer price index (CPI) inflation to 5.2% year-on-year in November 2024, down from 9.3% in October and 30.4% in November 2023.
On a monthly basis, urban inflation rose by 0.5% in November 2024, lower than the 1.1% increase seen in October but higher than the 4.3% recorded in November 2023.
In rural areas, CPI inflation reached 4.3% year-on-year in November 2024, a slight rise from 4.2% in October but a significant drop from 27.5% in November 2023.
Month-on-month, rural inflation also increased by 0.5% in November 2024, compared to a higher 1.5% rise in October and a marginal 0.4% increase in November 2023.
