Weekly inflation edges up by 0.07% amid rising food prices

ISLAMABAD: The Sensitive Price Index (SPI)-based weekly inflation recorded a marginal increase of 0.07% for the week ending December 12, 2024, driven by higher prices for essential food items, according to the Pakistan Bureau of Statistics (PBS).

Key contributors to the rise included chicken (up 3.80%), vegetable ghee (2.27%), bananas (1.99%), potatoes (1.93%), mustard oil (1.07%), and LPG (0.28%).

Of the 51 essential items monitored, prices for 18 items (35.29%) increased, 11 items (21.57%) decreased, while 22 items (43.14%) remained stable during the week.

On a year-on-year basis, inflation rose by 3.71%, primarily due to steep hikes in prices of pulse gram (59.55%), pulse moong (36.44%), potatoes (36.16%), powdered milk (25.74%), beef (23.82%), and tomatoes (20.51%). Other notable increases included garlic (15.97%), gas charges for Q1 (15.52%), cooked daal (14.85%), shirting fabric (14.54%), and firewood (12.05%).

Conversely, significant price declines were observed in wheat flour (-35.88%), chili powder (-20.00%), diesel (-10.77%), petrol (-10.33%), pulse masoor (-10.26%), onions (-8.92%), basmati rice (-7.46%), electricity charges for Q1 (-6.96%), sugar (-6.52%), bread (-5.99%), and tea (-5.09%).

The mixed trend reflects fluctuations in food and energy markets, impacting household expenses differently across various commodities.