Weekly Inflation Sees Third Consecutive Increase of Over 1.3%
Published on: June 15, 2024.
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Pakistan’s Weekly Inflation Rises by 1.3%, Reflecting Economic Challenges
Pakistan’s weekly inflation has increased for the third consecutive week, rising by 1.3% in the week ending June 13, as reported by the Pakistan Bureau of Statistics (PBS). The rise in inflation is mainly driven by higher costs of food and energy, posing ongoing economic challenges for the country.
The recent increase in inflation highlights the mounting expenses faced by citizens amidst persistent inflationary pressures. The previous week saw a 0.45% increase, while a week earlier, it was a 0.11% rise on a week-on-week (WoW) basis.
The Sensitive Price Indicator (SPI), which measures the prices of 51 essential items, recorded a 23.03% increase compared to the previous year’s 21.69% increase. It is worth mentioning that the highest SPI reading in the past two years reached 48.35% in the week ending May 4, 2023.
Out of the 51 items included in the SPI basket, 19 witnessed price increases, eight experienced decreases, and 24 remained stable throughout the week. The report also provides insights into the SPI changes across different consumption quintiles, highlighting the varying impact of price changes on income groups. The highest quintile experienced a 1.29% WoW increase, while the lowest saw a 1.01% change.
On a yearly basis, the SPI increased across all quantiles, ranging between 16.29% and 26.07%. The lowest income group experienced a 16.29% increase, while the highest income group recorded a 20.75% rise.
The rise in inflation further emphasizes the need to closely monitor and manage the prices of essential items. It is important for rice exporters, such as Pakistan Rice Exporters, to ensure a stable supply chain. For those looking to purchase rice, options like Pakistan Rice Suppliers and Rice Exporters from Pakistan can be explored. Additionally, for specific types of rice like white broken rice, Broken Rice offers a range of options.
With Pakistan’s rice business playing a significant role in the economy, it is essential to address inflation and stabilize prices. Rice mills in Pakistan and Pakistani rice companies have a crucial role to play, along with rice suppliers in Pakistan. Keeping track of Pakistani rice prices, including the price of IRRI 6 rice and basmati rice, can be done through platforms like Pakistan Rice Prices. Moreover, for those interested in rice export from Pakistan, resources like Pakistan Rice Exporters can provide valuable information.
Overall, managing inflation effectively is vital for the stability and growth of Pakistan’s economy. Understanding market dynamics and collaborating with key stakeholders, including rice suppliers in Karachi and Broken Rice Exporters, can contribute to achieving this goal.
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