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ISLAMABAD: Federal Minister for Planning and Development Asad Umar expressed joy that April is the third successive month of a sharp decline in inflation in the country.
Taking to Twitter, Minister for Planning, Development and Special Initiatives Asad Umar said this was the third successive month inflation had declined as Pakistan’s consumer price inflation eased to 8.5 percent in April.
Consumer price inflation (cpi) fell to 8.5% in april. It’s the 3rd successive month of sharp decline in inflation, with CPI dropping by more than 6% in last 3 months. With the sharp reduction in petroleum prices on May 1, inshallah May inflation will be still lower
— Asad Umar (@Asad_Umar) May 1, 2020
He said, “Consumer price inflation fell to 8.5pc in April. It’s the 3rd successive month of a sharp decline in inflation, with CPI dropping by more than 6pc in the last three months.”
Last month, Asad Umar said that inflation has continued to fall. The latest weekly Sensitive Price Indicators (SPI) was down to 8.2 percent this week, he said.
According to Asad Umar, the year on year SPI was above 20 percent in the mid of January. He reiterated that the rate of inflation for essential products that people use on a daily bases has fallen to less than half in the last three months.
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