Pakistan’s inflation eases to 11.8% in May, lowest in 30 months 

1 / 2
A customer buys vegetables from a stall at a market in Karachi on July 3, 2023. (AFP/File)
2 / 2
Short Url
Updated 03 June 2024
Follow

Pakistan’s inflation eases to 11.8% in May, lowest in 30 months 

  • Consumer prices fell 3.2% in May 2024 compared to decrease of 0.4% in April 2024, data shows 
  • Analysts hope easing inflation would help the central bank ease Pakistan’s monetary policy

KARACHI: The rate of inflation in Pakistan for May 2024 eased to 11.8% year-on-year basis, data from the Pakistan Bureau of Statistics (PBS) revealed on Monday, the lowest since November 2021 and below the finance ministry’s projections. 

Pakistan has recorded inflation above 20% since May 2022. In May 2023, the rate of inflation jumped as high as 38% as the South Asian country navigated a tricky path to economic recovery, undertaking painful reforms as part of an International Monetary Fund bailout program. 

On a month-on-month basis, the inflation rate decreased 3.2% in May 2024 compared to a decrease of 0.4% in April 2024, and an increase of 1.6% in May 2023, as per data by the Pakistan Bureau of Statistics (PBS). 

“CPI for the month of May 2024 clocked in at 11.8% YoY, lowest inflation since November 2021,” Muhammad Sohail, CEO of Topline Securities, said. “Tighter monetary and fiscal policies, record agricultural production in Pakistan and stable currency helped achieve this inflation level.”

Prices of food commodities, including onions, increased by 86.64%, tomatoes by 55.46%, condiments and spices by 39.17% while the price of wheat decreased by 29.06%, wheat flour by 28.48%, and chicken by 22.30% on an annual basis in May 2024, according to data shared by the PBS. 

Pakistani analysts hope the easing of the inflation rate in the country to the lowest level in about 30 months, will lead to the central bank easing the country’s monetary policy. 

“We continue to believe that soon central bank will cut the interest rate,” Sohail said. 

The central bank cumulatively has raised the policy rate by 1500 basis points during FY22 and FY23 and maintained it at 22%, as adjustments in administered energy prices in the backdrop of longstanding structural issues. 

In its monthly economic report released last week, Pakistan’s finance ministry said it expected inflation to hover between 13.5% and 14.5% in May and ease to 12.5% to 13.5% by June 2024.


Pakistan’s Mahnoor Omer named among TIME’s ‘Women of the Year’ for 2026

Updated 8 sec ago
Follow

Pakistan’s Mahnoor Omer named among TIME’s ‘Women of the Year’ for 2026

  • Omer moved a Pakistani court against the so-called ‘period tax’ in Sept. 2025 which has since sparked a national debate
  • Taxes on sanitary pads in Pakistan can add up to 40 percent to retail price, UNICEF says only around 12 percent women use such products

ISLAMABAD: Pakistani women’s rights activist Mahnoor Omer, who fought against taxes on menstrual products, has been named among the TIME magazine’s ‘Women of the Year’ for 2026.

Omer’s efforts have been recognized alongside 16 activists, artists, athletes and businesswomen in the TIME’s Women of the Year 2026 list, including Olympic gold medalist Sydney McLaughlin-Levrone and Oscar-nominated filmmaker Chloe Zhao.

Dissatisfied with the efforts to educate Pakistani girls about sexual violence, Omer founded the Noor Foundation at the age of 14 and held her own workshops with village girls about everything from climate change to menstruation, according to the TIME magazine.

Two years later, a conversation with a domestic worker about the price of pads made her realize that not everyone could afford these essentials. She moved a court against the so-called “period tax” in Sept. 2025 and the case has sparked a national debate on the subject, considered a taboo by many in Pakistan, since its first hearing late last year.

“A decade and one law degree after her interest in activism was sparked, Omer, now 25, is putting her passion and expertise to work in the name of gender equity,” TIME wrote about Omer on its website.

Taxes imposed on sanitary products in Pakistan can add up to 40 percent to the retail price. UNICEF estimates just 12 percent of women in the country use commercially produced pads or tampons. The alternative, using cloth, risks health impacts including rashes and infections, and can make it impossible for girls to attend school while menstruating.

Omer’s suit, which awaits the government response, has sparked a national discussion. She says she spoke about menstruation to her father and male cousins, who thanked her for standing up for their daughters.
The 25-year-old, who is currently enrolled in a master’s degree in gender, peace, and security at the London School of Economics, sees this case as just the first of many.

“I’m not free until every woman is free,” she was quoted as saying by TIME. “I want to leave no stones unturned in terms of what I can do with the next few decades, as a lawyer for the women in my country and gender minorities in general.”