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Inflation rate slows down to 11-month low

Inflation rate slows down to 11-month low

ISLAMABAD: Inflation rate in the country slows down to 11-month low. According to Pakistan Bureau of Statistics price of petrol reduced by 13 percent in the month of May.

Inflation rate in May stood at 8.22 percent while inflation rate in May 2019 was 8.4 percent. Inflation rate during 11 months of the current fiscal year stood at 10.94 percent.

Price of onion fell by 23 percent, petrol 13 percent, eggs 19 percent and potato 31 percent. On the other hand, price of fruit rose by nine percent, milk four percent and meat by one percent.

Petroleum prices have fallen drastically in Pakistan over the last few weeks, in line with global prices. On Sunday, Prime Minister Imran Khan announced a 8.5% cut in petrol prices in the country.