Pakistan’s headline inflation rate dropped to 6.9% year-on-year in September 2024, a notable decrease from August’s 9.6%. This marks the second consecutive month of single-digit inflation, according to data from the Pakistan Bureau of Statistics (PBS).
Arif Habib Limited noted that this is the lowest inflation rate recorded in 45 months, dating back to January 2021.
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On a month-on-month basis, the Consumer Price Index (CPI) saw a decline of 0.5% in September 2024, in contrast to a 0.4% increase in August and a 2.0% rise in September 2023. Core inflation, which excludes food and energy prices, rose by 10.4% year-on-year in September 2024, down from 11.9% the previous month and a significant drop from 22.1% in September 2023.
In terms of monthly changes, the average core CPI increased by 0.3% in September 2024, a slight decrease compared to a 0.5% rise in August and a 1.6% increase in September 2023.
