Inflation increased by 0.15 percent

ISLAMABAD: The Federal Bureau of Statistics (FBS) on Saturday released data on inflation. 

According to the report, inflation rose to 0.15 percent in one week which stands at 10.21 percent. Prices of 14 expensive items and 7 items were reduced in one week while prices of 30 essential items remained stable this week.   

Domestic LPG cylinders became more expensive by Rs. 16 this week, while milk, meat, rice, tomatoes, potatoes, and lentils also became more expensive. Prices of eggs, onions, tea, and spices also rose.   

In one week, the price of chicken decreased by Rs. 8 per kg, and the prices of garlic, and desi spices and lentils and sugar declined.   

Earlier, the State Bank of Pakistan announced its monetary policy and reduced the interest rate by 100 basis points, or one percent, to 7 percent.   

A meeting on monetary policy was held in Karachi where interest rates were reduced by one percent for the next two months.   

Earlier, the SBP had announced the last monetary policy for the current financial year, cutting interest rates by 100 basis points, or one percent, to eight percent.   

Over the past three months, interest rates have fallen by 5 percent to 7 percent. In January 2020, the interest rate was 13.2 percent. On 17th March this year, the interest rate reached 12.5 percent.