Short-term inflation reaches over 14% in Pakistan

Short-time inflation in Pakistan, measured by the sensitive price index (SPI), surged to 14.36 percent year-on-year (YoY), according to the data issued by the Pakistan Bureau of Statistics (PBS).

The short-term inflation graph showed that the trend returned to an upward direction after a seven-week consecutive decline.

The data showed a 0.01 percent increase week-on-week. The rising trend is due to a hike in food and energy prices.

However, a slight decline in fuel prices cut transportation prices, and the government hinted at further drop in prices next week.

PBS data depicted that weekly inflation hit a record 48.35 percent year-on-year inflation recorded in early May 2023, but it declined as low as 24.4 percent in August 2024.

SPI comprising 51 essential items from 50 markets of 17 cities showed an increase of 29.41 percent in prices in 15 items, while 14 items' prices were reduced by 27.45 percent, and 22 remained the same.

A major decrease was observed in the price of Bananas at 6.04 percent, pulses at 1.33 percent, wheat flour at 0.97 percent, LPG at 0.97 percent and eggs at 0.91 percent.

According to the data, Daal Channa and garlic prices remain stable, while meat picked an upward trend.