On Tuesday, Pakistan’s consumer price index, or CPI, in September clock in at 6.93% year-on-year (YoY), far within the central bank’s objective of 5 to 7pc for next year.

In order to maintain macroeconomic stability and assist in reducing inflation down to the medium-term target of 5 to 7 percent in September 2025, the SBP has stayed away from implementing dramatic monetary easing.

The Consumer Price Index (CPI) tracks changes in prices for several areas of household spending and measures inflation for households.

The CEO of Topline Securities, Mohammed Sohail, credited “aggressive monetary tightening” for the decrease in inflation.

One year ahead of schedule, he declared, “The State Bank of Pakistan (SBP) had achieved bringing inflation below 7pc.”

August had a 34-month low in inflation, with a 9.6 percent year-over-year (YoY) increase.

The government’s economic staff put a lot of effort into achieving the single-digit inflation rate, which pleased Prime Minister Shehbaz Sharif.

In the meantime, the finance minister announced that inflation had reached single digits and would “subside more,” noting that this development was due to the stand-by agreement with the International Monetary Fund (IMF) being successfully completed.

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