Pakistan inflation at bay 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.

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