The Sensitive Price Index (SPI)-based inflation for the week ending on September 19, 2024, witnessed a year-on-year increase of 12.72 per cent, as reported by the Pakistan Bureau of Statistics (PBS). This marks the lowest annual inflation rate since October 2021, according to data from Arif Habib Limited (AHL).
Key price increases and impact
The rise in inflation was largely driven by significant increases in gas charges for Q1 (up by 570 per cent), onions (74.62 per cent), pulse gram (57.34 per cent), powdered milk (25.45 per cent), beef (25.31 per cent), tomatoes (17.98 per cent), pulse moong (16.41 per cent), cooked daal (15.65 per cent), and salt powder (15.38 per cent).
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Weekly decline in prices of essential commodities
Despite the annual inflation rise, SPI-based inflation for the week saw a slight decrease of 0.52 per cent compared to the previous week. This reduction was due to lower prices of key commodities, including diesel (down 5 per cent), onions (4.45 per cent), petrol (3.88 per cent), tomatoes (1.93 per cent), sugar (0.70%), and both potatoes and LPG (0.57 per cent).
Item price overview
Out of 51 monitored items, the prices of 17 items (33.34 per cent) increased, 15 items (29.41 per cent) decreased, and the remaining 19 items (37.25 per cent) remained unchanged during the week.
This mixed trend highlights fluctuations in commodity prices across Pakistan, with both surges in essential goods and reductions in fuel costs impacting inflation.
