ISLAMABAD: Pakistan’s Sensitive Price Index (SPI) inflation for the week ending January 30, 2024, increased by 0.44% compared to the same week last year, according to data from the Pakistan Bureau of Statistics (PBS). This marks the lowest year-on-year inflation rate in seven years, as reported by Topline Securities.
The rise in inflation is primarily attributed to higher prices of essential items such as potatoes (up 34.95%), pulse gram (32.92%), pulse moong (32.01%), powdered milk (25.71%), beef (22.52%), and vegetable ghee (1kg) (17.46%), among others.
However, some items saw significant price drops, including onions (down 54.36%), eggs (37.38%), wheat flour (36.77%), tomatoes (35.82%), and chilies powder (20.00%). Other decreases were noted in electricity charges, diesel, and petrol prices.
On a week-on-week basis, SPI inflation fell by 0.36%, driven by drops in the prices of tomatoes (down 16.18%), onions (12.32%), potatoes (7.66%), and eggs (5.09%). The price of LPG also decreased by 3.21%.
Out of 51 monitored items, 9 (17.65%) saw price increases, 16 (31.37%) decreased, and 26 (50.98%) remained stable during the week.
