Weekly inflation rate in Pakistan increases before Ramadan

KARACHI: The weekly inflation rate in Pakistan increased before Ramazan because food prices started to rise, which ended the three-week decline period, according to official statistics.

The Sensitive Price Indicator recorded a week-on-week increase of 0.09 percent for the week ending February 4 because essential kitchen goods became more expensive.

The Pakistan Bureau of Statistics reports that weekly inflation increased because tomato prices rose sharply, while onion, banana, garlic, and diesel prices also increased.

The prices of pulses, mustard oil, and mutton increased, which created additional financial strain for households before the start of Ramazan. The week experienced an overall price increase, although essential items from several categories showed price decreases.

The prices of wheat flour, eggs, masoor dal, liquefied petroleum gas, cooking oil, and IRRI rice decreased, which offered some price relief to customers. Prices of 12 items increased, while 13 items decreased, and 26 items maintained their price.

The weekly inflation rate reached 4.84 percent as the SPI index increased to 333.79 points compared to the previous year. The lowest income group experienced minor inflation relief, while other income groups saw inflation increases, which created different inflation effects for various household types.

Economists predict that weekly inflation will experience unstable patterns during the coming weeks because food demand increases before Ramadan. The rising prices of vegetables will sustain high weekly inflation rates even though other essential products have shown stability.