Spi Surges 43%: Impressive Growth in Stock Performance
Published on: January 10, 2024.
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Short-Term Inflation in Pakistan Continues to Rise, Mainly Due to Surge in Vegetable and Pulse Prices
In the week ending on January 4, the short-term inflation in Pakistan continued its upward trajectory, recording an annual increase of 42.86%. This surge can be attributed to a significant rise in the prices of vegetables and pulses, as per official data released by the Pakistan Bureau of Statistics. The weekly inflation has remained above 41% for the eighth consecutive week, highlighting the persistent inflationary pressures in the country.
The categories that experienced the highest annual price increases included gas charges for Q1 (1,108.59%), tomatoes (94.05%), cigarettes (93.22%), chillies powder (81.74%), garlic (67.88%), wheat flour bag (65.36%), gents sponge chappal (58.05%), sugar (57.76%), rice IRRI-6/9 (54.52%), gents sandal (53.37%), rice basmati broken (51.45%), and gur (48.07%). On the other hand, the prices of onions witnessed a decrease of 12.25% year-on-year, followed by mustard oil (5.40%), vegetable ghee 1 kg (1.11%), and bananas (1.01%).
The short-term inflation is measured using the Sensitive Price Index (SPI), which tracks a basket of goods and services. The latest SPI reading stood at 313.66, compared to 311.14 in the preceding week and 219.56 a year ago. This indicator provides valuable insights into the cost of living for the average Pakistani.
(Source)
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