Pakistan's Inflation Rate Predicted to Decline Further: Ministry of Finance Report

Islamabad: The Ministry of Finance has issued its monthly economic report, forecasting a further decline in inflation in Pakistan. The report anticipates that the country's inflation rate will range between 13.5% and 14.5% in May.

The Ministry highlighted emerging signs of economic recovery and announced that formal negotiations with the International Monetary Fund (IMF) have begun for a new three-year loan program. This IMF loan is deemed essential for maintaining stable policies and is expected to boost investment in the country.

Additionally, the report noted a significant increase in agricultural production, which has risen by 6.25% this year. The Ministry emphasized that consistency in policies is crucial for economic stability.

The report also revealed that weekly inflation, as measured by the Sensitive Price Indicator (SPI), experienced its sixth consecutive decrease, dropping by 0.34% for the combined consumption group during the week ending on May 23.

Out of 51 monitored items, prices for 12 items (23.53%) increased, 18 items (35.29%) decreased, and 21 items (41.18%) remained stable. Notable price increases included beef with bone (0.49%), pulse gram (0.42%), prepared tea (0.30%), mutton (0.25%), gur (0.22%), curd (0.11%), fresh milk (0.06%), and pulse mash (0.01%).