Inflation in Pakistan, as measured by the Consumer Price Index (CPI), fell to 6.9% year-on-year (YoY) in September 2024, its lowest level since January 2021, according to the Pakistan Bureau of Statistics (PBS). This represents a significant decrease from 9.6% in August 2024 and 31.4% in September 2023. The average CPI for the first quarter of the fiscal year stood at 9.19%, a sharp decline from the previous year’s 29.04%.

Urban inflation dropped to 9.3% YoY in September 2024, down from 11.7% in August, while rural inflation fell to 3.6%, compared to 6.7% the previous month. The Sensitive Price Index (SPI) decreased to 9.2%, and the Wholesale Price Index (WPI) dropped to 1.9% YoY.

Food prices showed a mixed trend, with onions, pulse gram, and eggs witnessing notable increases, while tomatoes, fresh vegetables, and wheat flour saw significant declines. Non-food items like motor fuel and electricity charges decreased, while dental services and electrical appliances experienced price hikes.

This decline in inflation reflects easing price pressures, particularly in rural areas.