Pakistan's consumer inflation rate fell to its lowest in over nine years, registering at 2.4% year-on-year in January, according to the statistics bureau. This marks a significant decrease from 28.3% in January 2024. Month-on-month, consumer prices rose by 0.2%.
The country is currently navigating an economic recovery supported by a $7 billion facility from the International Monetary Fund (IMF), granted in September. The IMF is expected to review Pakistan's progress by March, with government and central bank officials expressing confidence in meeting targets.
In the Eurozone, the economy accelerated to an annual inflation rate of 2.5% in January, surpassing economists' expectations of 2.4%. This follows a low of 1.7% in September, with recent data indicating a re-acceleration as base effects from lower energy prices diminish.
The European Central Bank recently reduced interest rates by 25 basis points to 2.75%, with further cuts anticipated throughout the year. The latest figures come after key economies such as France and Germany reported annual inflation rates of 1.8% and 2.8%, respectively.