In July 2024, Pakistan’s headline inflation was recorded at 11.1% yearly, as reported by the Pakistan Bureau of Statistics (PBS). This reflects the lowest Consumer Price Index (CPI) figure since November 2021, when it was at 11.5%. On a month-on-month basis, CPI inflation increased by 2.1% in July 2024, compared to a rate of 0.5% in the previous month.
The PBS also reported that urban CPI inflation stood at 13.2% on a year-on-year basis in July 2024, compared to an increase of 14.9% in the previous month and 26.3% in July 2023. On a month-on-month basis, urban CPI inflation increased to 2.0% in July 2024, compared to 0.6% in the previous month and 3.6% in July 2023.
Furthermore, CPI inflation increased to 8.1% on a year-on-year basis in July 2024, compared to 9.3% in the previous month and 31.3% in July 2023. On a month-on-month basis, it increased to 2.2% in July 2024, compared to 0.3% in the previous month and 3.3% in July 2023.
In addition, the Asian Development Bank (ADB) released a report last month predicting a 7% decrease in Pakistan’s debt volume.
The report expects the debt volume to decrease from 77% to 70% of the country’s GDP. It also states that 62% of Pakistan’s revenue will be spent on debt repayment in the current fiscal year. Additionally, the report predicts that inflation will remain high in Pakistan during the current fiscal year.
 released a report last month predicting a 7% decrease in Pakistan’s debt volume){kind=link}