Short-Term Inflation Falls Slightly as Fuel Prices Decline

The Sensitive Price Index (SPI)-based inflation for the week ended August 15, 2024, decreased by 0.16 percent mainly due to decrease in the prices of onions (4.91 percent), petrol (3.15 percent), diesel (2.44 percent), wheat flour (1.83 percent), pulse moong (1.81 percent) and sugar (0.59 percent), according to the Pakistan Bureau of Statistics (PBS).

During the week, out of 51 items, prices of 19 (37.25 percent) items increased, 13 (25.50 percent) items decreased and 19 (37.25 percent) items remained stable.

Some of the items prices of which decreased during the period under review include onions (4.91 percent), petrol super (3.15 percent), hi-speed diesel (2.44 percent), wheat flour bag 20 kg (1.83 percent), pulse moong (1.81 percent), chicken (1.57 percent), bananas (1.36 percent), LPG (0.90 percent), sugar (0.59 percent), potatoes (0.58 percent), pulse masoor (0.56 percent), rice basmati broken (0.09 percent) and bread plain (0.03 percent).

Year-on-year trend

The year-on-year trend depicts an increase of 16.86 percent mainly due to increase in the prices of gas charges for q1 (570 percent), onions (125.64 percent), pulse gram (42 percent), tomatoes (27.77 percent), powered milk (26.51 percent), garlic (25.16 percent), pulse moong (24.64 percent), beef (23.71 percent), salt powder (21.14 percent) and long cloth (16.64 percent), while major decrease was observed in the prices of wheat flour (34.46 percent), chilies powder (17.78 percent), electricity charges for q1 (16.91 percent), cooking oil 5 litre (11.10 percent), petrol (10.07 percent), diesel (9.22 percent), vegetable ghee 2.5 kg (8.84 percent), rice basmati broken (8.59 percent), vegetable ghee 1 kg (6.85 percent), mustard oil (5.43 percent), sugar (5.17 percent) and washing soap (0.35 percent).