Short-term inflation skyrockets to 28.96pc

The weekly inflation, measured by Sensitive Price Indicator (SPI), increased by 0.33 pc on a year-on-year basis for the week ending on July 13, official data showed.

The short-term inflation rose by an all-time high of 48.35pc for the period that ended on May 4.

The SPI for the week under review in the above-mentioned group was recorded at 258.63 points as compared to 257.79 points during the past week, according to the PBS data.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 28.96 per cent.

During the week, out of 51 items, prices of 21 (41.17%) items increased, 11 (21.58%) items decreased and 19 (37.25%) items remained stable.

The items, which recorded a decrease in their average prices on a week-on-week (WoW), included bananas (12.18%), tomatoes (6.35%), onions (5.32%), LPG (2.17%), vegetable ghee 2.5 kg (0.85%), pulse moong (0.70%), cooking oil 5 litre (0.51%), pulse gram (0.46%), vegetable ghee 1 kg (0.36%), pulse masoor (0.18%) and chicken (0.13%).

The items that recorded an increase in their average prices on a week-on-week (wow) basis, included sugar (5.22%), wheat flour (4.23%), gur (3.68%), salt powdered (2.17%) and eggs (1.34%).

The commodities that witnessed a decrease in price on a Year-on-Year (YOY) basis, included onions (28.17%), electricity for q1 (14.58%), pulse masoor (7.54%), diesel (5.82%), LPG (1.23%) and vegetable ghee 1 kg (1.16%).

On a Year-on-Year (YoY) basis, the commodities which recorded an increase in their average prices included wheat flour (129.84%), cigarettes (111.74%), gas charges for q1 (108.38%), tea packet (101.56%), rice basmati broken (76.74%), rice irri-6/9 (73.88%), potatoes (61.67%), gents sponge chappal (58.05%), sugar (57.91%), chicken (56.06%), salt powdered (53.49%), gur (48.30%) and bread (46.86%).