Sensitive Price Indicator (SPI) data shows that short-term inflation in the week ending November 17 decreased to 0.62 per cent week-over-week (WoW), primarily as a result of lower prices for some food products such tomatoes, lentils, and cooking oil. The SPI was 0.74 per cent last week.
The Pakistan Bureau of Statistics (PBS) revealed data on Friday showing that the weekly inflation rate increased by 28.67 per cent year over year (YoY).
Since reaching a peak of 45.5 per cent in the week ending September 1, the annual increase in SPI has been declining. YoY inflation was measured at 29.24 per cent last week.
Based on a study of 50 markets in 17 cities across the country, the SPI tracks the costs of 51 necessities. 23 items had price increases over the week, 13 saw price decreases, and 15 saw no change.
Highest WoW increase
Salt: 7.61 per cent
Lipton tea: 5.9 per cent
Chicken: 4.89 per cent
Onions: 4.61 per cent
Eggs: 3.66 per cent
Highest WoW decline
Tomatoes: 6.06 per cent
Pulse Masoor: 1.56 per cent
Pulse Gram: 1.46 per cent
Ghee (1 kg): 1.03 per cent
Pulse Mash: 0.68 per cent
Highest YoY increase
Onions: 319.35 per cent
Lipton tea: 59.27 per cent
Pulse Gram: 57.39 per cent
Petrol: 53.85 per cent
Pulse Moong: 51.24 per cent
Highest YoY fall
Chilli powder: 41.42 per cent
Sugar: 4.27 per cent
After slowing to 23.2 per cent in September from a 49-year high of 27.3 per cent in August as the nation continued to be gripped by high food and transportation expenses, annual CPI inflation soared to 26.6 per cent YoY in October.
In recent weeks, inflation has been driven up by rising vegetable prices, particularly those of onions and tomatoes, as a result of standing crops damaged by floods, as well as a significant increase in electricity prices.
The Food and Agriculture Organization of the United Nations issued a warning last month that severe food insecurity is likely to get worse in some areas of Pakistan as a result of the negative effects of floods and the astronomically high prices of energy and gasoline.