Pakistan Inflation Slows More Than Expected as Food Prices Ease

Pakistan’s inflation rate rose slower-than-expected in December, justifying the central bank’s decision to cut its policy rate to a three-year low to support growth.

The consumer price index rose 5.6% in December from a year earlier, according to data released by the Pakistan Bureau of Statistics on Thursday. That compares with a 5.8% median estimate in a Bloomberg survey. The reading was also lower than 6.1% in November.