Pakistan's inflation rate slows to 8.2pc year-on-year in May

Published June 1, 2020
Petroleum prices have fallen drastically in Pakistan over the last few weeks, in line with global prices. — APP/File
Petroleum prices have fallen drastically in Pakistan over the last few weeks, in line with global prices. — APP/File

The Consumer Price Index (CPI) inflation rate slowed to 8.2 per cent year-on-year in May, the Pakistan Bureau of Statistics (PBS) said on Monday.

The inflation rate was 8.5pc in April, and currently stands at 10.94pc for the period from July to May, 2019-20.

CPI peaked in January, registering 14.56pc year-on-year. Food inflation, with a weight of 34.5pc in the overall number, was 12.24pc year-on-year for May, while transport inflation was recorded at -7.46pc for the same period.

Petroleum prices have fallen drastically in Pakistan over the last few weeks, in line with global prices.

On Sunday, Prime Minister Imran Khan had announced a 8.5pc cut in petrol prices in the country.

The government had reduced the prices of all petroleum products except High Speed Diesel (HSD) to partially pass on the impact of massive international price reduction to the masses. The revised prices will remain effective till June 30.

In doing so, the government had also increased the rate of petroleum levy on petrol by more than 26pc to mop up additional windfall revenues of about Rs6.5bn. The levy on petrol was increased from Rs23.76 per litre to the maximum permissible limit of Rs30 per litre.

Opinion

Kashmir question
06 Mar 2021

Kashmir question

Every single spell of détente evaporates before our very eyes.
Inventing cultural nostalgia
06 Mar 2021

Inventing cultural nostalgia

Glorifying violence & conquest through fictionalised history will have devastating consequences for Pakistan.

Editorial

06 Mar 2021

Vote of confidence

PRIME MINISTER Imran Khan’s decision to take a vote of confidence from parliament today is a bizarre move with a...
06 Mar 2021

PSL disaster

RAPID escalation in the number of coronavirus cases has led to the postponement of the Pakistan Super League’s...
06 Mar 2021

India ranking

WHILE India has often tooted its own horn as the ‘world’s largest democracy’ — being supported in this...
Ravi project
Updated 05 Mar 2021

Ravi project

THE assault by an enraged group of farmers on a provincial revenue team assigned to acquire land for the...
05 Mar 2021

Climate change

PAKISTAN received much less rainfall in January 2021 as compared to previous years, making it the 17th driest month...
05 Mar 2021

Antimicrobial resistance

WITH the focus on Covid-19, many health issues, though otherwise recognised as serious medical problems, tend to be...