The latest data released by the Pakistan Bureau of Statistics (PBS) indicates a notable decline in the Consumer Price Index (CPI) for April 2024, registering at 17.3% Year-on-Year (YoY).
This figure represents a drop from the previous month’s 20.7% YoY and a decrease from April 2023’s 36.4% YoY.
Similarly, the average core inflation, measured by non-food non-energy items, saw a 15.6% YoY increase in April 2024, compared to 15.7% YoY in the prior month and 21.7% YoY in April 2023.
On a monthly basis, the CPI witnessed a 0.4% decrease in April 2024, marking the first monthly decline since June 2023 and indicating a potential downward trend in inflation.
This contrasts with the 1.7% increase observed in the previous month and the 2.4% increase recorded in April 2023.
The inflation figures for April 2024 were in line with the expectations but softer than the forecasts made by the Finance Ministry.
