Inflation to decrease in coming months: Reports
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State Bank of Pakistan has announced a new monetary policy for the next two months. Inflation, which was rising at the highest rate, is expected to decrease now. State Bank has stated that inflation will be high in October but will start decreasing from November.
Following administrative actions, there has been a reduction in inflation and an improvement in the dollar exchange market. According to details, the State Bank of Pakistan has decided to maintain the interest rate at 22% in the new monetary policy for the next two months. They mentioned that inflation was rising at a rate of 38% in May, but in August 2023, the inflation rate increased by 27.4%. Inflation has now fallen below the highest level reached in May, and it is expected to continue to decrease, especially with actions against hoarding and speculative activities in the commodity and exchange markets.
Adjustments in energy government prices are being made to transfer the impact to consumers. Inflation is estimated to be decreasing, thanks to recent administrative measures that have reduced barriers to imports. Improvement has been observed in the dollar exchange market following administrative actions. Inflation will be high in October, but the rate of inflation is expected to decrease from November.
