Efforts to reduce inflation are now showing results: PM Imran

Prime Minister Imran Khan said on Sunday that the government's efforts to reduce inflation in the country are showing results as the consumer price index and core inflation are on a downward trend.

"More good news on the economic front. Our efforts to reduce inflation are now showing results. Consumer price index & core inflation are both now lower than when our government was formed," the premier said in a Twitter post.

"I have told my economic team to stay vigilant & ensure that inflation stays under control," he maintained.

The premier's statement came a few hours after the Federal Minister for Planning and Development Asad Umar took to Twitter to announce that the inflation was on the downward trajectory.

Also read: Pakistan to be made into industrial state, agro-based economy: PM Imran

"Inflation continues to decline. Jan inflation (CPI) is down to 5.7%. Core inflation is at 5.4%," Umar said and added, "last month (Jul 2018) prior to PTI govt formation, CPI was 5.8% & core was 7.6%. The rate of inflation is lower today than when the PTI govt was formed."

On Friday, while addressing a public gathering in Sahiwal, the premier said that efforts were underway to turn the country into an industrial state and an agro-based economy, to ensure sustainable development and prosperity.

Economic uplift has been a major task for the government, among other challenges including overcoming corruption. According to a recent report, Pakistan’s ranking on the global corruption perception index slid to a six-year low due to prevalence of corruption at all tiers of the state, suggesting the government could not end the menace despite its topmost priority.