Pakistan experiences 44.16% surge in weekly inflation rate
Published on: January 13, 2024.
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Pakistan’s Weekly Inflation Soars by 44.16% on Year-on-Year Basis
Islamabad, Jan. 12 – The Pakistan Bureau of Statistics (PBS) reported that Pakistan’s weekly inflation, as measured by the Sensitive Price Index (SPI), increased by a staggering 44.16% on a year-on-year basis. This rise in inflation has sparked concerns across the country.
The SPI is a vital tool for assessing the price movement of essential commodities. It comprises 51 essential items collected from 50 markets in 17 cities throughout Pakistan. The latest data from the PBS highlights significant changes in prices for various goods.
During the week ending on Jan. 11, 2024, the prices of gas, tomatoes, cigarettes, chili powder, garlic, white sugar, wheat flour, and rice significantly increased compared to the corresponding period last year. Conversely, mustard oil, onions, cooking oil, bananas, and other items experienced a decrease in prices.
The SPI for the week ended on Jan. 11, 2024, also revealed a 1.36% increase on a week-on-week basis. The prices of tomatoes, onions, chicken, electricity, eggs, matchboxes, brown sugar, liquified petroleum gas, pulse grams, energy savers, and rice recorded significant jumps during this period.
However, there were price decreases for potatoes, cooking oil, sugar, mustard oil, and garlic on a week-on-week basis, according to the PBS.
These changes in inflation can have profound effects on various sectors, including the rice industry. Pakistan is one of the leading rice exporters globally, and the current inflationary trend may impact the market dynamics.
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In conclusion, the recent surge in inflation presents challenges for the Pakistani economy and businesses. Rice suppliers and exporters in Pakistan (https://www.hasrice.com/pakistan-rice-exporters/) must adapt to the changing market conditions. Companies like HAS Rice Pakistan (https://www.hasrice.com) continue to provide reliable rice exports from Pakistan (https://www.hasrice.com), serving customers worldwide.
Source: [Xinhua News Agency](https://english.news.cn){:target=”_blank” rel=”nofollow”}
