Pakistan’s inflation rate slowed to 8.22% y / y in May| Instant News


Men sell vegetables at their temporary stalls at the Consort Market in Karachi, Pakistan April 2, 2018. REUTERS / Akhtar Soomro / Files

ISLAMABAD (Reuters) – Pakistan’s Consumer Price Index (CPI) inflation rate slowed to 8.22% YoY, May, the country’s statistics bureau said Monday.

The inflation rate was 8.5% in April, and currently stands at 10.94% for the period from July to May, 2019-20.

CPI peaked in January, recording 14.56% year-on-year. Food inflation, weighing 34.5% in total, was 12.24% year-on-year for May, while transportation inflation was recorded at -7.46% for the same period.

Oil prices have dropped dramatically in Pakistan over the past few weeks, in line with global prices. On Sunday, Pakistani Prime Minister Imran Khan announced a 8.5% cut in gasoline prices in the country.

Reporting by Gibran Peshimam; Editing by Gareth Jones

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