Weekly Inflation Still Above 45% Due to Higher Food and Fuel Prices

Despite coming down slightly on a week-on-week basis, weekly inflation stood at 45.49 percent on a year-on-year (YoY) basis for the week ended on May 25, 2023, showed data released by the Pakistan Bureau of Statistics (PBS) on Friday.

The Sensitive Price Indicator (SPI) based inflation for the week ended May 11, 2023, recorded a decrease of 0.42 percent over the previous week due to a decrease in the prices of food and non-food items.

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), Wheat Flour (110.17 percent), Gas Charges for Q1 (108.38 percent), Bananas (99.58 percent), Potatoes (98.10 percent), Rice Basmati Broken (81.24 percent), Rice Irri-6/9 (79.96 percent), Petrol (79.85 percent), Diesel (78.68 percent), Eggs (69.55 percent), Pulse Moong (63.18 percent), Bread (63.17 percent) and Pulse Mash (55.93 percent), while decrease was observed in the prices of Tomatoes (43.49 percent) and Onions (33.74 percent).

Week-on-week change

On a week-on-week basis, a decrease was observed in the prices of food items, Chicken (8.91 percent), Wheat Flour (3.33 percent), Eggs (3.03 percent), Garlic (2.83 percent), Tomatoes (2.61 percent), Onions (2.22 percent), Bananas (2.04 percent), Pulse Moong (1.51 percent), Pulse Masoor (1.26 percent), Cooking Oil 5 Litre (1.01 percent) and non-food item, LPG (3.44 percent).

On the other hand, an increase was observed in the prices of Energy Saver (4.91 percent), Rice Basmati Broken (1.86 percent), Cooked Beef (1.32 percent), Mutton (1.22 percent), Milk Fresh (1.20 percent), Shirting (1.14 percent) and Beef (1.03 percent).

During the week, out of 51 items, prices of 18 (35.30 percent) items increased, 16 (31.37 percent) items decreased and 17 (33.33 percent) items remained stable