Karachi (HRNW) Inflation for the outgoing month of March reflected more than a 2% slash in the consumer price index, to 10.24%. In February, before the coronavirus lockdown, inflation was 12.4%.
The report is published by the Pakistan Bureau of Statistics. It recorded a hike in the prices of onions, potatoes and fruit by 35%, 11% and 8.5%, respectively. The prices of tomatoes, fish, and vegetables went down 23%, 9% and 7.8%. Fuel is 6.71% cheaper.
Market experts have hinted that with control on rupee depreciation and economic damage, the consumer price index shall see a further decline to go into the single digits. They see the key interest rates following suit.
Average inflation for the fiscal year 2020 (July 2019 to date) stands at 11.53%.
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