By WEB DESK: In a noteworthy development for Pakistan’s economic landscape, the weekly inflation rate has exhibited a significant drop, falling to 22.32 per cent. This decline, while short-term, signals a welcome alleviation of inflationary pressures.
As per the latest report from the Pakistan Bureau of Statistics, the Sensitive Price Index, a key measure of weekly inflation, recorded a decrease of 1.39 per cent. This decline reflects shifts in the prices of essential commodities across 17 cities.
The Sensitive Price Index meticulously monitors 51 essential items across 50 markets, offering valuable insights into consumer purchasing power and market dynamics.
Analysing the data on an annual basis reveals substantial decreases in prices for several crucial items. Notably, bananas registered the most significant decline at 38.79 per cent, followed by wheat flour (28.21 per cent) and chicken meat (20.27 per cent).
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However, certain items experienced price hikes compared to the previous week, including tomatoes (19.24 per cent) and eggs (4.73 per cent).
Moreover, last week witnessed a one per cent reduction in short-term inflation, with the annualised inflation rate also declining to 24.37 per cent following this decrease.
These fluctuations in inflation rates carry wide-ranging implications for both the economy and consumers, influencing spending habits and overall economic stability.
The decline in the weekly inflation rate offers a ray of hope amidst ongoing economic challenges, providing some respite to consumers grappling with the impact of rising prices.
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