Inflation is projected to slow to 5.8%-6.8% in November, and then further to 5.6%-6.5% in December, the finance ministry said in its monthly economic report on Wednesday.
“Inflation is expected … [to] further recede to 5.6% – 6.5% by December 2024,” said the Finance Division in its Monthly Economic Update and Outlook.
The central bank slashed interest rates by 250 basis points earlier in November in a bid to revive a sluggish economy amid a big drop in the rate of inflation.
According to Pakistan Bureau of Statistics (PBS) data, inflation sharply dropped to 7.2% in October from a multi-decade high of nearly 40% in May 2023, while it was slightly higher than 6.9% in September 2024.
“On the agriculture front, wheat crop sowing is in progress to achieve the targeted area and production. The government facilitations are well intact regarding the timely provision of key inputs to the farmers at reasonable prices,” according to the report.
