ISLAMABAD: With the announcement of SPI on Friday and CPI data on Monday, May 31, 2021, the inflation scenario has significantly improved. The CPI, during the month of May, came to 10.9pc compared.
Inflation is Declining in Pakistan
With the announcement of SPI on Friday, and CPI data on Monday, May 31, 2021, the inflation scenario has significantly improved, said a statement issued by the Ministry of Finance.
The CPI during May came to 10.9 percent compared to 11.2 percent a month earlier, which is a clear sign of easing inflationary pressures.
According to the statement issued by the Ministry of Finance, this assertion is strengthened by two further developments. First, the month-on-month inflation dropped to only 0.1 percent compared to 1 percent in April.
Second, the average inflation for 11 months (July-May) has come down to 8.8 percent compared to double-digit inflation of 10.9 percent.
Tarin directs USC to ensure availability of essential items at affordable prices
Finance Minister Shaukat Tarin has directed the Utility Stores Corporation to ensure availability of essential items at affordable prices to facilitate the common people.
He was chairing meeting of the National Price Monitoring Committee in Islamabad today (Tuesday).
The Ministry of National Food Security and Research also reaffirmed its resolve to build reserves of essential food items in partnership with provinces.
Competition Commission of Pakistan briefed the chair on strict action being taken against profiteers in poultry market and the resultant decline in the price of chicken in the country.