Annual inflation slows to 12.4pc in year on year comparison from last February: PSB

Updated 02 Mar 2020

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Pakistanis have lately been under a tough squeeze on their household budgets. — Dawn/File
Pakistanis have lately been under a tough squeeze on their household budgets. — Dawn/File

Pakistan's consumer price inflation (CPI) slowed to 12.4 per cent in February from the same month a year earlier, Pakistan Statistics Bureau said on Monday.

The bureau had recorded the CPI inflation at 14.56pc in January, the highest in a decade. State Bank of Pakistan in late January had kept rates unchanged at 13.25pc, citing strong inflationary pressures.

Prices of food items such as pulses, fresh vegetables and wheat, which have been the main drivers of inflation, saw a downward trend, the bureau said in a press release on Monday.

It added that electricity prices had also gone down 13.48pc compared to January, which had an overall impact on inflation.

Pakistanis have lately been under a tough squeeze on their household budgets, with the Imran Khan-led government facing severe criticism because of the weakening purchasing power of households.

The government has also been trying to overcome sugar and wheat crises in the country after the commodities went short in supply, resulting in price hikes.

Prime Minister Imran Khan last month declared his government would provide relief to the masses by reducing prices of essential commodities and taking stern action against hoarders.

In a tweet, the prime minister had said his cabinet would announce some drastic measures to give relief to the inflation-hit people. Following his announcement, the government established 50,000 shops in the country where essential food items were made available at subsidised rates.