Short-term inflation in Pakistan eased by 0.10% to the 27-month low of 16.69% for the week ended on August 22, 2024, compared to the same week of the previous year.
According to data released by the Pakistan Bureau of Statistics (PBS), a downturn in the weekly inflation was mainly driven by declining prices of tomatoes which lowered 21.96%, and wheat flour by 2.77%.
Another major decrease was observed in the prices of Onions (1.70%), Sugar (1.43%), Chicken (1.25%), Pulse Masoor (1.00%) and Bread (0.61%).
Contrary to this, an increase was observed in the prices of Eggs (6.10%), Pulse Gram (6.05%), Potatoes (2.41%), Cooked Daal (0.89%), Cooked Beef (0.74%), Mustard Oil (0.63%), Beef (0.47%), Shirting (0.43%), Milk Fresh (0.39%) and LPG (0.16%).
PBS data shows that out of 51 items, prices of 21 (41.18%) items increased, 9 (17.64%) items decreased and 21 (41.18%) items remained stable during the week under review.
The year-on-year trend depicts an increase of 16.69% led by Gas Charges for Q1 (570.00%), Onions (79.51%), Pulse Gram (51.34%), Tomatoes (28.10%), Powered Milk (26.14%), Gents Sandal (25.01%), Beef (23.89%), Pulse Moong (23.88%), Shirting (23.61%), Garlic (22.84%), Salt Powder (21.36%) and Georgette (15.18%).
While major decrease was witnessed in the prices of Wheat Flour (36.12%), Chilies Powder (17.78%), Electricity Charges for Q1 (16.91%), Cooking Oil 5 Litre (10.50%), Petrol (10.07%), Sugar (9.62%), Diesel (9.22%), Rice Basmati Broken (8.88%), Vegetable Ghee 2.5 Kg (7.63%), Vegetable Ghee 1 Kg (6.51%) and Mustard Oil (4.00%).
The sensitive Price Indicator (SPI) is computed on a weekly basis to assess the price movement of essential commodities at a shorter interval of time so as to review the price situation in the country.
