Owing to soaring retail prices of perishable food items, short-term inflation has risen 5.07 percent year-on-year in the week ending Sept 4.

Measured by the Sensitive Price Index (SPI), short-term inflation refers to recent and frequent changes in the price of goods and services within an economy, rather than a long-term trend. It is measured to quickly gauge shifts in consumer prices and purchasing power over a very short period.

SPI inflation has been on an upward trajectory for the past seven weeks, fuelled mainly by sharp increases in the prices of tomatoes, onions, potatoes, rice, chicken, liquefied petroleum gas (LPG) and wheat flour. Official data showed that inflation increased by 1.29pc on a weekly basis.

Tomatoes led the surge, retailing at up to Rs300 per kg in Islamabad, while sugar climbed to Rs195–200 per kg. Meat prices also maintained a steady upward trend in recent weeks.

While overall short-term inflation seems slower due to last year’s high base, the sharp escalation in perishables and a few key essentials has reversed the stable trend seen earlier this year.