Fall in Fuel Prices bring inflation rate to 3.24 %

Written by  Published by:Pakistan Views Monday, 02 March 2015 17:24

KARACHI: Pakistan Bureau of Statistics said on Monday that annual inflation of Pakistan fell to 3.24 in February against 3.96 per cent in January, key factor being a fall in fuel prices.

On a month-on-month basis, prices rose 0.92 per cent in February.

Average inflation in the period from July to February was 5.45 per cent.

Falling fuel prices were a major contributor to the decline in prices, said Shaukat Khan, the director of the bureau of statistics.

Another factor responsible for the lower inflation rate is the lowering of the interest by the State Bank to a 10-year low in January.

The slash in the interest rate had followed a previous decrease announced in November 2014.

The International Monetary Fund had also predicted that the Average inflation will ease to below 8pc in fiscal year 2014-15 and fall further thereafter, as inflation expectations will be anchored by tight monetary policy and sustainable fiscal policy.

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