Weekly inflation eases 1.7% over oil price fall.

ISLAMABAD -- Owing to the reduction in prices of petroleum products in line with global trend and the fall in dollar rate in the wake of a crackdown on currency smugglers and hoarders, the inflation rate has come down in Pakistan, which will provide some relief to people in the current challenging times.

During the week ended on October 19, 2023, the inflation rate, measured by the Sensitive Price Indicator (SPI), fell 1.7% compared to the previous week. On an annual basis, the inflation decreased from 38.28% to 35.45%.

According to the weekly report of Pakistan Bureau of Statistics (PBS), prices of 24 items dropped during the week under review while prices of 14 items increased. Rates of the remaining 13 items in the SPI basket remained unchanged.

The price of 1kg onion fell by Rs9.48 and the price of chicken decreased by Rs20.6. Similarly, the price of lentil dipped Rs11.03 per kg. Prices of tea and rice also fell during the week.

However, rates of 14 items including eggs, mutton and beef increased while bread and milk powder saw no change in their rates.

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