The latest data from the Pakistan Bureau of Statistics (PBS) indicates that weekly inflation, measured by the Sensitive Price Index (SPI), has extended its streak above 40% for the sixth consecutive week. As of the week ending December 21, 2023, the year-on-year inflation rate reached a staggering 42.60%.
The persistent inflation trend is primarily attributed to substantial increases in gas charges (1108.59%), cigarettes (93.22%), chilies powder (81.74%), wheat flour (78.80%), garlic (72.48%), rice basmati broken (62.52%), and more. Notably, the cost of living has been significantly impacted by the rising prices of essential items such as tomatoes (56.89%), sugar (50.33%), and gur (49.86%).
Despite the overall upward trajectory, the SPI for the current week experienced a marginal decrease of 0.51% compared to the previous week. This dynamic reflects the ongoing volatility in the market.
Out of 51 tracked items, 35.29% witnessed price increases, 17.65% saw decreases, and 47.06% remained stable during the week. Notable increases were observed in the prices of eggs (10.42%), firewood (1.23%), and onions (1.19%), while decreases were noted in potatoes (13.17%), petrol super (4.97%), and hi-speed diesel (4.68%).
Understand the implications of these inflationary pressures on consumer goods, including essential commodities like wheat flour, sugar, and petrol. Explore the fluctuating prices of everyday items, and stay informed about the economic landscape.
Also Read: PIDE Study Reveals: Government’s Extensive Role Hampers Pakistan’s GDP Growth
