Weekly Inflation Spikes Above 23% for Second Consecutive Week
Published on: June 21, 2024.
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The Sensitive Price Index-based inflation for the week ended June 20, 2024, has increased by 0.94 percent, according to the Pakistan Bureau of Statistics (PBS).
Out of the 51 items analyzed, the prices of 25 items (49.02 percent) have increased, 5 items (9.80 percent) have decreased, and 21 items (41.18 percent) have remained stable during the week.
Among the items that saw an increase in prices during this period are tomatoes, which saw a significant increase of 65.84 percent. Potatoes also saw an increase of 5.61 percent, while onions increased by 3.78 percent. Bananas saw a moderate increase of 3.29 percent. Other items that experienced price increases include LPG (2.44 percent), pulse moong (1.53 percent), garlic (1.29 percent), fresh milk (0.95 percent), eggs (0.83 percent), pulse gram (0.74 percent), salt powdered (0.47 percent), cooked beef (0.37 percent), curd (0.33 percent), gur (0.21 percent), energy saver (0.17 percent), sugar (0.16 percent), pulse mash (0.12 percent), mustard oil (0.12 percent), and wheat flour bag 20 kg (0.11 percent).
On the other hand, there were some items that experienced a decrease in prices. Petrol super saw a decrease of 3.76 percent, while hi-speed diesel decreased by 0.84 percent. Rice basmati broken saw a slight decrease of 0.08 percent, along with pulse masoor (0.08 percent) and chicken (0.05 percent).
In terms of the year-on-year trend, there has been an overall increase of 23.78 percent. This increase is mainly attributed to the rise in prices of gas charges for q1 (570 percent), tomatoes (191.00 percent), onions (122.66 percent), chilies powder (54.81 percent), garlic (40.55 percent), salt powder (29.49 percent), pulse gram (22.67 percent), pulse mash (22.60 percent), beef (22.12 percent), and electricity charges for q1 (21.46 percent). On the other hand, there has been a major decrease in the prices of wheat flour (32.90 percent), chicken (20.60 percent), cooking oil 5 litre (16.17 percent), vegetable ghee (2.5 kg) (13.39 percent), vegetable ghee (1 kg) (12.42 percent), bananas (11.69 percent), mustard oil (8.24 percent), tea lipton (2.52 percent), and petrol (1.38 percent).
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(Source: Source)
