Pakistan's weekly inflation reverses three-week trend, rises marginally by 0.55%

By
Business Desk

December 17, 2021

— Reuters/File
— Reuters/File

  • During the current week, price of potatoes, tomatoes, chicken, eggs, sugar, beef with bone, and mutton decline in a range of 1-15%.
  • Among non-food items, electricity charges for Q1 rise over 10% respectively.
  • On a year-on-year basis, the SPI inflation records an increase of 19.49%.

After three uninterrupted weeks of recording a decline, Pakistan’s weekly inflation based on the sensitive price index (SPI) increased by 0.55% during the week that ended on December 16.

Meanwhile, on a year-on-year basis, the SPI inflation recorded an increase of 19.49% — the highest ever yearly increase since January 2020.

The combined income group index went up from 167.24 points during the week that ended on December 9 to 168.16 points in the week under review.

According to the provisional figures released by the Pakistan Bureau of Statistics (PBS), the average prices of 17 essential items, including pulse masoor, salt powdered 800gm, pulse gram, bananas etc., rose during the outgoing week.

Prices of 15 items, including potatoes, tomatoes, chicken, onions and petrol declined significantly. Meanwhile, the rates of 19 essential goods remained unchanged.

The bureau, in its weekly report, said that among food items, the price of 800 grams of powdered salt increased by 3.70%. Meanwhile, prices of pulses increased within a range of 1-4%.

Among non-food items, electricity charges for Q1 rose over 10% respectively.

Pakistans weekly inflation reverses three-week trend, rises marginally by 0.55%

During the week under review, the price of potatoes and tomatoes dropped within a range of 12.65-15.52%, while the price of chicken decreased by over 5%. Other items that recorded a decline included eggs, sugar, beef with bone, and mutton recorded a decrease.

Meanwhile, among non-food items, the price of hi-speed diesel and petrol also witnessed a considerable decline of nearly 3.5% each.

Pakistans weekly inflation reverses three-week trend, rises marginally by 0.55%

The SPI for the lowest income group increased by 0.45% compared to the previous week. The index for the group stood at 177.32 points against 176.52 points in the previous week.