Pakistan

Short term inflation falls by 0.16% in Pakistan

Published by

Staff Reporter

2 years ago

LAHORE: Pakistan’s short-term inflation decreased by 0.16 percent for the week ending August 15, 2024, as reported by the Pakistan Bureau of Statistics (PBS) on Friday. Despite this, the annual inflation rate surged by 16.86 percent.

The PBS uses the Sensitive Price Indicator (SPI) to monitor short-term inflation weekly, tracking price changes in essential goods and providing insight into current price trends.

The SPI measures 51 key items from 50 markets in 17 cities across Pakistan. For the reported week, 19 items (37.25 percent) saw price increases, 13 items (25.50 percent) experienced price decreases, and 19 items (37.25 percent) remained stable.

Significant price drops were noted for onions (down 4.91 percent), petrol (down 3.15 percent), diesel (down 2.44 percent), wheat flour (down 1.83 percent), and moong pulse (down 1.81 percent).

Product prices across Pakistan:

Product	Increase	Product	Decrease
Tomatoes	34.77 per cent	Onions	4.91 per cent
Eggs	4.78 per cent	Petrol	3.15 per cent
Garlic	1.99 per cent	Diesel	2.44 per cent
Beef	0.88 per cent	Wheat Flour	1.83 per cent
Cooked Beef	0.41 per cent	Pulse Moong	1.81 per cent

In contrast, notable price hikes included tomatoes (up 34.77 percent), eggs (up 4.78 percent), garlic (up 1.99 percent), beef (up 0.88 percent), and cooked beef (up 0.41 percent).

Moreover, the SPI varied across income groups during the week, with two groups seeing increases and three experiencing decreases, ranging from a 0.25 percent decrease to a 0.07 percent increase. The lowest income group had a 0.07 percent rise, while the highest income group faced a 0.25 percent decline.

Staff Reporter