Weekly inflation rises 27pc

ISLAMABAD: The Pakistan Bureau of Statistics reported that short-term inflation, measured by the Sensitive Price Index (SPI), surged to nearly 27% year-on-year for the week ending April 25. This surge resulted from an unprecedented rise in gas prices and significant increases in essential food costs.

Slight Weekly Reprieve

The SPI for the current week showed a slight reprieve, easing by 1.1%. However, annual figures revealed the economic strain on Pakistani households. The year-on-year trend showed a staggering 570% increase in gas charges. Essential commodities also saw substantial hikes: tomatoes surged by 122.34%, onions by 121.2%, and chili powder by 77%.

Price Changes in SPI Basket

Out of the 51 items in the SPI basket, 15 saw price increases, 10 experienced decreases, and 26 remained stable. Notable week-on-week price drops included a 20.83% decrease in tomatoes, 14.43% in onions, and 11.64% in chicken. Other significant reductions included wheat flour (4.92%), eggs (4.45%), chili powder (3.86%), bananas (3.3%), LPG (2.22%), and garlic (0.43%).

Items with Price Increases

Conversely, several items experienced price increases: potatoes rose by 1.8%, powdered milk by 1.3%, vegetable ghee by 0.70%, pulse mash by 0.65%, sugar by 0.60%, gur by 0.59%, cooked daal by 0.56%, mutton by 0.51%, and shirting by 0.37%.

Annual Price Increases

The PBS detailed the annual increases in specific items: the price of gents’ sandals shot up by 67%, garlic by 65.11%, gents’ sponge chappals by 58.05%, salt powder by 32%, shirting by 30%, and 27% each in gur and pulse mash. Beef prices also rose by 24.07%.

Annual Price Decreases

In contrast, some items saw notable year-on-year price decreases. Bananas fell by 34%, cooking oil (5 liters) by 21%, vegetable ghee (2.5 kg) by 17.56%, and wheat flour by 16.72%. Additionally, mustard oil dropped by 13.36%, eggs by 9.32%, LPG by 7.21%, and diesel by 0.85%.

Economic Impact

This data highlights the severe impact of rising gas prices and essential food costs on Pakistan’s economy. It reflects a challenging inflationary environment for consumers.