Pakistan Inflation Eases for a Fourth Month on Record Rates
03 May 2024
Published in: bloomberg
Pakistan’s inflation slowed in Apr for the fourth straight month as record borrowing costs reined in economic growth and domestic demand. Consumer prices rose 17.34% from a yr ago, according to data rel by the Pakistan Bureau of Statistics on Thu. That compares with a median estimate for a 17.6% gain in a Bloomberg svy and 20.68% in Mar.
▪️ The easing pace of price gains is in part due to the base eff of surging inflation last yr. It is in line with the State Bank of Pakistan’s forecast that inflation will cont to moderate unless the govt hikes taxes and energy costs or prices soar unexpectedly in the global mkt. The monetary auth kept the benchmark interest rate at a record for its seventh meeting in a row on Mon, tgt to bring down Asia’s fastest inflation to 5%-7% by late next yr.
