While inflation is predicted to remain between 18.5 and 19.5 percent in April 2024, the Finance Division anticipates it to decrease to 17.5–18.5 percent in May 2024.
The finance division stated in its Monthly Economic Update & Outlook for April 2024 that the improvement in the domestic supply chain of necessities and the favourable base effect from the previous year are responsible for the inflation outlook continuing its downward trajectory.
According to the research, the government is aggressively implementing stringent administrative measures in an effort to lower inflation, which suggests that the outlook for inflation is modest.
The government has increased domestic petrol prices in response to rising global crude oil prices.
It further stated that administrative actions and a government attempt to lower the price of wheat flour are likely to counteract the increase in fuel prices.
According to the study, there was a 1.1% increase in the Food and Agriculture Organization’s food price index in March 2024 compared to the revised February level. Cereals and sugar were on the decrease, whereas meat, dairy products, and vegetable oils saw an increase.
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