Pakistan's weekly inflation rises by 27%

The week ending April 25 witnessed a significant surge in short-term inflation, as measured by the Sensitive Price Index (SPI), leading to an unprecedented rise in gas prices and essential food items. The increase amounted to nearly 27 per cent on an annual basis, reported Dawn, citing the Pakistan Bureau of Statistics on Friday, Dawn reported.

"The SPI for the current week ended on April 25, eased 1.1pc," it stated, according to the report.

The PBS reported that the "year-on-year trend depicts a spike of 26.94 per cent", as gas charges surged by 570 per cent, followed by a 122.34 per cent rise in tomato, 121.2 per cent in onion, and 77 per cent in chilli powder prices, as per Dawn.

Out of the 51 items in the SPI basket, prices of 15 items increased while 10 items saw a decrease, and prices of 26 items remained stable.

Notably, tomato prices saw a significant week-on-week decline of 20.83 per cent, followed by onions at 14.43 per cent and chicken at 11.64 per cent.

Additionally, wheat flour prices dropped by 4.92 per cent, eggs by 4.45 per cent, chilli powder by 3.86 per cent, bananas by 3.3 per cent, LPG by 2.22 per cent, and garlic by 0.43 per cent.

According to Dawn, prices rose for potatoes by 1.8 per cent, powdered milk by 1.3 per cent, vegetable ghee by 0.70 per cent, pulse mash by 0.65 per cent, sugar by 0.60 per cent, gur by 0.59 per cent, cooked daal by 0.56 per cent, mutton by 0.51 per cent, and shirting by 0.37 per cent.

Providing insights into the year-on-year rise in SPI, the PBS disclosed notable increases in several items. Gents' sandals saw a surge of 67 per cent, while garlic prices rose by 65.11 per cent. Additionally, gents' sponge chappal prices increased by 58.05 per cent, salt powder by 32 per cent, shirting by 30 per cent, and gur and pulse mash prices each witnessed a 27 per cent rise. Beef also became costlier by 24.07 per cent.

Certain items experienced a decrease in prices over the same period. Bananas saw a significant decrease of 34 per cent while cooking oil (5-litre) prices decreased by 21 per cent, and vegetable ghee (2.5 kg) prices dropped by 17.56 per cent.

Similarly, wheat flour prices decreased by 16.72 per cent, mustard oil by 13.36 per cent, eggs by 9.32 per cent, LPG by 7.21 per cent, and diesel by 0.85 per cent.