Pakistan experienced a notable reduction in the rate of inflation during the month of May, with figures dropping by 3.24%, according to data released by the Pakistan Bureau of Statistics.
Inflation eased to 11.76% in May, a significant improvement compared to previous months. The average rate of inflation from July 2023 to May 2024 was recorded at 24.52%, as reported by the bureau.
The report also highlights variations in inflation rates between urban and rural areas, with cities experiencing a decrease of 2.80% and rural areas seeing a 3.89% reduction.
Several key commodities witnessed price changes, with tomatoes and onions notably becoming cheaper by 51% in urban areas last month. Live chicken and wheat prices also decreased significantly, by 35.28% and 20.17%, respectively. Wheat flour became cheaper by 20.12%, and fruits and vegetables by 8%.
However, certain items saw price increases, such as potatoes by 14.73%, meat 4pm, ghee 1.27%, cooking oil 1.26%, and dental services. Prices for beverages and dry fruits have surged over the past year, with increases of 24% and 23%, respectively.
The rates of transport and medical facilities went up by 3.3% and 2% in egg price, the report stated. In comparison to April, the dental services increased by 15%, and doctor fee by 5%.
The report also reveals that compared to the previous year, various essentials like daal mash, sugar, dry milk, sweets, and daal masoor have become more expensive by 22%, 19%, 22%, 16%, 15%, respectively.
Furthermore, expenses related to bakery items, gas, electricity, and transport have seen significant hikes over the past year, with gas prices soaring by 318%, electricity by 59%, and transport by 32%.
