ISLAMABAD – The effects of the federal government’s measures to control inflation have begun to show, with the annual inflation rate dropping to single-digit for the first time in three years. As of last month (August), the annual inflation rate reached 9.6%.
According to the monthly inflation report released by the Federal Bureau of Statistics, the inflation rate for August was 9.6%. In August 2023, inflation was recorded at 27.4%, while in August 2022, it was 27.3%.
The report indicates that inflation was higher in urban areas compared to rural areas. In August, inflation in urban areas was recorded at 11.7%, whereas in rural areas, it was 6.7%.
The report also highlights that, on a monthly basis, prices of onions increased by 23.62%, eggs by 12.39%, and fresh vegetables by 12.25%. Meanwhile, chickpeas rose by 4.55%, potatoes by 2.90%, and fresh and dried milk increased by 1.27% and 1.20%, respectively.
On the other hand, fresh fruits became 13.10% cheaper, tomatoes dropped by 8.09%, and the price of flour decreased by 3.40% on a monthly basis. Other items that saw price reductions include wheat, bread, and cigarettes.
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