Weekly Inflation Hits Staggering 46.6%

Weekly inflation continued to rise due to the increase in food and energy prices, reaching an all-time high of 46.65 percent on a year-on-year (YoY) basis for the week ended on March 22, 2023, showed data released by the Pakistan Bureau of Statistics (PSB) on Friday.

The year-on-year trend depicts an increase mainly due to an increase in the prices of onions (228.28 percent), cigarettes (165.88 percent), wheat flour (120.66 percent), gas charges for q1 (108.38 percent), diesel (102.84 percent), tea lipton (94.60 percent), bananas (89.84 percent), rice irri-6/9 (81.51 percent), rice basmati broken (81.22 percent), petrol (81.17 percent), eggs (79.56 percent), pulse moong (68.64 percent), potatoes (57.21 percent) and pulse mash (56.46 percent), while decrease was observed in the price of chillies powdered (9.56 percent).

Week-on-week increase

The SPI for the week under review recorded an increase of 1.80 percent over the previous week. A major increase during the week was observed in the prices of tomatoes (71.77 percent), wheat flour bag 20 kg (42.32 percent), potatoes (11.47 percent), bananas (11.07 percent), tea lipton yellow label (7.34 percent), and rice basmati broken (2.50 percent).

On the other hand, a decrease was observed in the prices of chicken (8.14 percent), chilies powder national 200 gm packet each (2.31 percent), LPG (1.31 percent), mustard oil (1.19 percent), garlic (1.19 percent), pulse gram (1.06 percent), and onions (1.06 percent).

The SPI is computed on weekly basis to assess the price movement of essential commodities at shorter intervals of time so as to review the price situation in the country. SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.

During the week, out of 51 items, prices of 26 (50.98 percent) items increased, 12 (23.53 percent) items decreased and 13 (25.49 percent) items remained stable.

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