Positive development for Pakistan on the economic front

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Positive development for Pakistan on the economic front

ISLAMABAD: Federal Minister for Planning and Development Asad Umar tweeted on Sunday that inflation is on the decline due to “success” of Prime Minister Imran Khan’s economic policy.

“Jan inflation (CPI) is down to 5.7%. Core inflation is at 5.4%,” he wrote on his official Twitter handle. Consumer Price Index (CPI) inflation was 5.8 per cent and core inflation 7.6pc before the PTI assumed power in 2018, he added.

“The rate of inflation is LOWER today then when the PTI govt was formed,” Asad Umar said, using “#PMIKECONPOLICYSUCCESS link” hashtag.

Pakistan Bureau of Statistics (PBS) reported Saturday that Pakistan’s weekly sensitive price index (SPI) went up 0.52 percent for the week ended January 28, mainly due to the increase in prices of some food items, including chicken, chilli powder, cooking oil, and ghee, official data showed.

SPI increased 7.48 percent as compared to weekly inflation in the corresponding period a year earlier.