Weekly inflation spikes by 3.68pc, PBS data shows

ISLAMABAD: Inflation measured through Sensitive Price Index (SPI) posted a hefty increase of 3.68 percent for the week ended on July 28 data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

According to details, the overall inflation rate in the country has reached 37.67 percent after weekly inflation surged by 3.68 percent driven by a sharp rise in the prices of essential items.

During the week, out of 51 items, prices of 30 items increased 07 items decreased and 14 items remained constant, showed the data issued by Pakistan Bureau of Statistics.

The weekly inflation spiked by 3.68pc due to an increase in prices of essential items including tomatoes 17.53pc, LPG 7.02pc, pulse masoor 4.18pc, pulse mash 2.87pc, puse gram 2.46, Pulse Moong (Washed) 2.02pc, Vegetable Ghee (2.5 kg) 1.80pc, Garlic 1.69pc, rice basmati (broken) 1.21pc.

Meanwhile, the electricity charges for quarter 1 (Q1) witnessed an increase of 26.11pc (Rs1.88). Prices of beef, mutton, sugar, milk and potatoes also witnessed an increase, while prices of onion, chicken, flour and eggs decreased.

Last week, the weekly inflation rate dropped to -0.22, however, the annual rate is over 32%.