Weekly inflation soars to 3.6pc on fuel prices hike

KARACHI: The Sensitive Price Indicator (SPI) based on weekly inflation increased by 3.63 percent during the week ended on June 30, according to data shared by the Pakistan Bureau of Statistics (PBS) on Saturday.

The SPI-based weekly inflation went up for the week ended on June 30, 2022 after registering an increase of 3.63 percent and 32.1 per cent on year to year basis.

During the week under review, out of 51 items, prices of 28 (54.91%) items increased, 06 (11.76%) items decreased and 17 (33.33%) items remained stable.

The SPI for the current week recorded an increase in the prices of food items including Tomatoes (31.53%), Onions (7.86%), Tea Lipton (4.60%), Eggs (2.56%), Pulse Mash (2.30%), Pulse Gram (2.17%), Pulse Moong (1.83%), Milk Fresh (1.81%), Potatoes (1.67%), Bread (1.59%), Cooking Oil 5 litre (1.40%) and Pulse Masoor (1.34%), non-food items Electricity charges for Q1 (27.89%), Washing Soap (2.56%) and LPG (1.15%), with joint impact of (3.78%) into the overall SPI for combined group of (3.63%).

On the other hand, a decrease was observed in the prices of Chicken (6.81%), Bananas (0.78%), Vegetable Ghee  1 Kg (0.44%), Garlic (0.26%), Wheat Flour (0.08%) and Mustard Oil (0.03).

Meanwhile, inflation, measured by Consumer Price Index (CPI), rose to 21.3pc during the month of June 2022, the Pakistan Bureau of Statistics (PBS) said in a report.

According to the stats provided by the PBS, the inflation rate in the country in June was recorded at 21.3 percent, the highest since December 2008.

In June, inflation rose 6.34pc month-on-month (MoM) and 21.32pc year-on-year (YoY), which was the highest figure since December 2008 when inflation stood at 23.3pc.