Short-term inflation rate in Pakistan hiked for 4th week

The short-term inflation, measured by the Sensitive Price Index (SPI), was increased in Pakistan for the fourth consecutive week, the official data issued on Friday showed.

The SPI-based inflation hiked 0.17 percent week-on-week on the last day that ended on July 26. The price increase was seen in food items, firewood, and cigarettes. 

The SPI rose to 20.09 percent on year-on-basis, according to the Pakistan Bureau of Statistics (PBS).

The items whose prices saw the increase included chicken (4.80%), garlic (2.01%), pulse gram (1.87%), eggs (1.71%), beef (0.93%), gur (0.89%), pulse moong (0.84%), milk fresh (0.45%), firewood (0.23%) and cigarettes (0.12%).

Meanwhile, prices of tomatoes were decreased by (9.19%), onions (2.14%), LPG (1.04%), bananas (0.53%), wheat flour (0.35%), potatoes (0.17%), pulse masoor (0.16%) and bread (0.05%).

“The year-on-year trend depicted an increase of 20.09%, gas charges for quarter-I (570.00%), Onions (96.01%), Pulse Gram (40.39%), Powered Milk (39.11%), Garlic (34.61%), Pulse Moong (29.77%), Gents Sandal (25.01%), Shirting (24.97%), Beef (23.52%), Salt Powder (23.28%), Pulse Mash (22.50%) and Energy Saver (17.96%)," the report mentioned.

However, a decrease was observed year-on-year in the prices of wheat flour (31.75%), cooking oil 5 litre (13.44%), vegetable ghee 2.5Kg (10.42%), and vegetable ghee 1 Kg (9.85%), mustard oil (8.33%), eggs (5.82%), rice basmati broken (4.15%) and tea lipton (2.52%)

According to the statistics, out of 50, 19 commodities witnessed increased prices in the week, 8 items' prices decreased, and 24 remained stable.