Pakistan’s central bank chief said on Thursday the deceleration in inflation was broad-based, reflecting the combined impact of monetary tightening and fiscal consolidation.

Jameel Ahmad was speaking to international investors on the sidelines of the IMF, World Bank spring meeting in Washington.

He said inflation had fallen sharply over the past year, reaching a two-year low of 20.7% in March 2024 from a peak of 38% in May 2023.