Weekly Inflation Remains Over 45% Due to Higher Food and Fuel Prices

Despite coming down marginally, weekly inflation remains above 45 percent and stood at 45.72 percent on a year-on-year (YoY) basis for the week ended on May 18, 2023, showed data released by the Pakistan Bureau of Statistics (PSB) on Friday.

The Sensitive Price Indicator (SPI) based inflation for the week ended May 11, 2023, recorded a decrease of 0.16 percent over the previous week due to a decrease in the prices of food and non-food items.

Courtesy: Arif Habib Limited

Year-on-year change

The year-on-year trend posted an increase due to increase in the prices of Cigarettes (138.50 percent), Tea Lipton (114.93 percent), Potatoes (114.69 percent), Gas Charges for Q1 (108.38 percent), Bananas (104.44 percent), Gents Sponge Chappal (100.33 percent), Wheat Flour (90.77 percent), Rice Basmati Broken (86.30 percent), Eggs (85.86 percent), Rice Irri-6/9 (80.44 percent), Petrol (79.85 percent), Diesel (78.68 percent), Pulse Moong (66.79 percent), Bread (63.17 percent) and Pulse Mash (57.06 percent), while a decrease was observed in the prices of Tomatoes (38.30 percent), Onions (30.18 percent) and Chilies Powdered (6.48 percent).

Week-on-week change

A decrease was observed in the prices of food items, Onions (9.04 percent), Garlic (1.76 percent), Sugar (1.42 percent), Wheat Flour (1.40 percent), Vegetable Ghee 2.5kg (0.63 percent), Mustard Oil (0.48 percent), Pulse Masoor (0.40 percent), Pulse Gram (0.12 percent) and Vegetable Ghee 1kg (0.11 percent), non-food items, Diesel (10.38 percent), Petrol (4.24 percent), LPG (3.02 percent) and Firewood (0.89 percent).

On the other hand, an increase was observed in the prices of Chicken (7.51 percent), Tea Lipton (4.53 percent), Gur (2.79 percent), Eggs (2.29 percent), Energy Saver (2.22 percent), Tomatoes (2.11 percent), Tea Prepared (1.09 percent) and Curd (1.08 percent).

During the week, out of 51 items, prices of 23 (45.10 percent) items increased, 13 (25.49 percent) items decreased and 15 (29.41 percent) items remained stable.