Prime Minister Shehbaz Sharif on Saturday, while congratulating the nation, took the credit for a fall in the weekly inflation rate (Sensitive Price Index-SPI).
On Friday, official data had shown that short-term inflation, measured by the Sensitive Price Index (SPI), slowed to 3.57% year-on-year in the week ending Dec 5, owing to a bearish trend in vegetables and pulses.
The SPI-based inflation decelerated for the past two consecutive weeks. It declined by 0.34pc from the previous week, the data showed.
The slight downturn on a week-on-week basis is due to a decline in chicken, pulses and basmati rice prices. However, perishable food products such as potatoes, onions and edible oil continued to rise after relative stability.
The prime minister reiterated his government's commitment to taking measures aimed at the economic turnaround.
With the grace of Allah Almighty and the efforts of the economic team, the prime minister said, inflation had dropped to its lowest level in the last six years.
Since October 4, 2018, the price index had been recorded at its lowest level today, PM Office Media Wing, in a press release, quoted the prime minister as saying.
Compared to the same corresponding period in last year, inflation had decreased by a significant 39.11% this week, which was a result of the hard work of the economic team, adding that he remained committed to every promise he made to the people.
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