Weekly Inflation Remains Above 45% for Second Straight Week

Weekly inflation continues to remain high due to the increase in food and fuel prices and came in at 46.82 percent on a year-on-year (YoY) basis for the week ended on April 27, 2023, showed data released by the Pakistan Bureau of Statistics (PSB) on Friday.

Weekly inflation had soared to 47.23 percent on a year-on-year basis for the week ended on April 19, 2023, meaning that this is the second straight week where weekly inflation has remained above 45 percent compared to the previous year.

The year-on-year trend posted an increase due to increase in the prices of wheat flour (175 percent), cigarettes (146 percent), potatoes (114 percent), gas charges for q1 (108 percent), tea lipton (104 percent), diesel (103 percent), eggs (92 percent), petrol (88 percent), rice basmati broken (88 percent), bananas (86 percent), rice irri-6/9 (83 percent), pulse moong (67 percent), bread (61 percent), pulse mash (58 percent) and washing soap (50 percent), while a decrease was observed in the prices of tomatoes (48 percent) and chilies powdered (6 percent).

Week-on-week increase

The SPI for the week under review recorded an increase of 0.15 percent over the previous week. A major increase during the week was observed in the prices of food items, potatoes (8 percent), chicken (2 percent), wheat flour (1.5 percent), gur (1 percent), bread (1 percent), and rice irri-6/9 (1 percent).

On the other hand, a decrease was observed in the prices of tomatoes (19 percent), bananas (5 percent), onions (1.40 percent), sugar (1 percent), LPG (1 percent), pulse masoor (0.98 percent) and mustard oil (0.39 percent).

The SPI is computed on a 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 21 (41.17 percent) items increased, 07 (13.73 percent) items decreased and 23 (45.10 percent) items remained stable.

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