Inflation hits six-year low at 4.07% in December 2024

The Pakistan Bureau of Statistics (PBS) has published its monthly inflation report, revealing a remarkable slowdown in the inflation rate, which dropped to 4.07% in December 2024.

 This marks the lowest inflation rate in over six years, providing some respite to consumers amidst fluctuating economic conditions.

The latest figures indicate a decline from November’s inflation rate of 4.86%, with the overall average inflation for the July-December 2024 period recorded at 7.22%. 

However, December saw a marginal increase of 0.06% compared to the previous month, suggesting a mixed trend.

The PBS report highlighted a divergence in inflation trends across urban and rural areas. 

Urban inflation saw a reduction of 0.10%, bringing the rate to 4.38%, while rural areas experienced a 0.29% rise, reaching 3.62%. 

These contrasting patterns underscore varying economic pressures faced by different segments of the population.

The Ministry of Finance had previously estimated December's inflation to range between 4% and 5%, a projection closely aligned with the final figures.

Reporter: Waqas Azeem