Weekly Inflation Continues to Surge

Weekly inflation continues to surge

PBS Data Released

According to Pakistan Bureau of Statistics (PBS) data released on Friday, inflation as assessed by the Sensitive Price Index (SPI) climbed by 0.82 percent from the previous week, owing primarily to a modest increase in food products. 

Last week, the SPI increased by 3.68 percent, the most since the shift in the base year for measuring the SPI. On June 17, the second-highest weekly inflation rate of 3.38 percent was recorded. 

The SPI increased 38.63 percent year on year, the biggest rate ever recorded. This is the biggest year-on-year (YoY) rise ever recorded. The government raised the price of diesel last week while modestly cutting the price of gasoline. Diesel’s impact on prices will be seen in prices next week. 

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Prices Of Food Items Increased

According to PBS data, the prices of 33 essential food items increased during the review week compared to the previous week. 

Onions increased 24.92 percent, tomatoes 11.93 percent, pulse moong 5.72 percent, pulse mash 5.28 percent, potatoes 5.03 percent, pulse masoor 4.43 percent, pulse gramme 2.69 percent, eggs 2.44 percent, powdered milk 1.61 percent, gur 1.53 percent, salt 1.46 percent, and garlic 1.30 percent, respectively. Non-food prices increased by 3.78 percent for diesel and 1.49 percent for LPG. The SPI climbed by 1.16 percent for the lowest income group (those earning less than Rs17,732 per month) and by 0.69 percent for those earning more than Rs44,175. 

Diesel prices increased 109.15 percent year on year, onions 107.95 percent, pulse masoor 106.71 percent, petrol 88.94 percent, cooking oil 5 litre 74.44 percent, mustard oil 73.89 percent, chicken 73.42 percent, vegetable ghee 1 kg 72.26 percent, vegetable ghee 2.5 kg 70.48 percent, washing soap 62.62 percent, pulse gramme 59.07 percent, and electricity surged by 52.61 percent.

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