Islamabad April 30 2024: Pakistan inflation is projected to hover around 18.5- 19.5 percent in April 2024. However, there are expectations of a gradual easing further to 17.5-18.5 percent in May 2024 states Ministry of Finance in its monthly report.
The inflation outlook for April 2024 continues a downward trajectory, attributed to the favorable base effect from the previous year and improvements in the domestic supply chain of essential items.
The inflation outlook appears moderate as the government is determined to reduce inflation by actively taking strict administrative measures. Increasing crude oil prices in the international market have prompted the government to raise domestic petrol prices. The rise in petroleum prices is expected to be offset by the government initiative to reduce wheat flour prices and administrative measures.
The Food and Agriculture Organization's food price index registered an increase of 1.1 percent in March 2024 over the revised February level. The increase was observed in vegetable oils, dairy products, and meat while a decline was recorded in sugar and cereals.
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