Inflation in February slowed more than government projections, with the annual inflation rate recorded at 1.52 per cent, significantly lower than the expected 2 per cent to 3 per cent.

According to the latest report by the Pakistan Bureau of Statistics (PBS), overall inflation declined by 0.83 per cent last month, with urban areas seeing a 1.8 per cent drop and rural areas experiencing a 1.1 per cent decline.

The average inflation rate from July to February stood at 5.85 per cent.

The report highlighted that essential food items became more affordable, with chickpeas and tea prices dropping by 10 per cent, gram flour by 9 per cent, wheat by 3 per cent, mash lentils by 2.82 per cent, and flour by 2.23 per cent.

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Prices of chicken, lentils (masoor and moong), fish, and dairy products also fell, along with fuel, transportation services, construction materials, electricity, and stationery.

Among the most significant price reductions, tomatoes saw a 57 per cent drop, onions fell by 32 per cent, potatoes by 20 per cent, and vegetables became 17 per cent cheaper.

The price of eggs also declined by over 14 per cent.

However, some commodities saw price hikes, with fruits increasing by 15 per cent, sugar by 9.35 per cent, butter by 5.61 per cent, spices by 1.59 per cent, and bakery items by 1.19 per cent.

The PBS report also noted that beverages became 1.16 per cent cheaper, while honey dropped by 1.12 per cent.

Meanwhile, cooking oil, ghee, meat, rice and ready-made food recorded price hikes, along with powdered milk, housing utilities, doctor consultation fees, and mechanical services.