Pakistan witnesses 1.35pc increase in weekly inflation

ISLAMABAD: Just two week after the newly elected government took charge, the Sensitive Price Indicator (SPI) recorded a notable 1.35 percent increase in the inflation rate as part of its weekly inflation report, ARY News reported on Friday.

Following the 1.35 percent increase in the weekly inflation rate, the annual inflation rate has reached an alarming level of 32.89 percent, indicating a significant strain on the economy.

According to data released by the statistics department, the prices of 18 essential items have surged, whereas, 14 items witnessed a decrease, while the price of 23 products remain unchanged.

Notably, there were significant increases in the prices of tomatoes, bananas, eggs, and garlic as the holy month started in country.

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Tomatoes have seen a price hike of up to Rs 30 per kilogram, while bananas have reached Rs 34 per dozen, and the price of eggs have soared to Rs 19 per dozen.

Furthermore, the price of domestic LPG cylinders has surged to Rs 146.71, adding to the financial burden on households. Garlic prices have risen by Rs 22 per kilogram, and mutton prices have seen an increase of Rs 31 per kilogram.

The skyrocketing prices have also affected basic food items like beef, chicken, cooking oil, and flour, with beef prices have risen to Rs 14 per kilogram, while chicken price surged to Rs 6 per kilogram.

On a slightly positive note, branded edible oil now costs Rs 29 less for a 5-liter container. Similarly, the price of branded ghee has decreased by Rs 14 for a 2.5 kg package, meanwhile, a 20 kg bag of flour has seen a reduction of Rs 26 in its price.

Furthermore, the price of sugar has decreased by Rs 0.93 per kilogram over the course of a week, as reported by the statistics office.