Pakistan's SPI inflation rate reached 17.96% year-on-year in August 2024, driven by higher prices of food items and contributing to a decreasing CPI.
Pakistan's Sensitive Price Index (SPI) showed a 17.96% year-on-year inflation rate for the week ending August 8, 2024, according to official data. SPI increased week-on-week by 0.30%, with higher prices of onions, eggs, garlic, and other items contributing to the rise. The benchmark monthly inflation measured through the Consumer Price Index (CPI) decreased to a three-year low at 11.1% in July and is expected to fall into single digits by the end of the fiscal year, potentially prompting the central bank to cut its policy rate.
August 09, 2024
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