Inflation slows down to 11.8% in May

According to data released by the Pakistan Bureau of Statistics (PBS) on Monday, the consumer price index (CPI) increased 11.8% in May compared to the same month last year. This was below the finance ministry’s predictions and the lowest reading in thirty months.
A week before the central bank meets to assess the benchmark rate, which has stayed at a record high of 22% for seven consecutive policy meetings, the lowest number is released.
Since May 2022, Pakistan has seen inflation that is higher than 20%. In May of last year, while the government worked through reforms as part of an IMF bailout package, inflation spiked as high as 38%. But since then, inflation has decreased.