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Monday January 20, 2025

Weekly inflation falls 0.62pc

By Our Correspondent
August 31, 2024
Vendors are selling vegetables at a market in Lahore on March 26, 2023. — Online
Vendors are selling vegetables at a market in Lahore on March 26, 2023. — Online

KARACHI: Weekly inflation, as gauged by the Sensitive Price Indicator (SPI), dipped by 0.62 per cent in the week ending August 29, 2024, primarily due to a reduction in food prices, according to official figures released on Friday.

Despite this overall decline, the SPI, which monitors the prices of 51 essential commodities, indicated a year-on-year increase of 15.34 per cent during the same week, the Pakistan Bureau of Statistics (PBS) reported.

The inflation index has persistently stayed in double digits since February 2020, highlighting ongoing inflationary pressures, especially on kitchen staples and other household essentials.The week’s data revealed that the prices of 17 items rose, 10 declined, and 24 remained unchanged. Among the notable decreases, the price of chicken fell by 3.02 per cent to Rs432.81 per kg, bananas by 2.35 per cent to Rs138.2 per dozen, chillies powder by 1.42 per cent to Rs324.23 per 200g packet, wheat flour by 0.85 per cent to Rs1,784.69 per 20kg bag, masoor pulse by 0.68 per cent to Rs316.1 per kg, and bread by 0.56 per cent to Rs109.41 per loaf.

However, not all items saw relief. The price of tomatoes increase by 8.03 per cent to Rs130.84 per kg, onions by 6.53 per cent to Rs145.53 per kg, gram pulse by 2.2 per cent to Rs374.71 per kg, garlic by 1.76 per cent to Rs533.04, and potatoes by 0.63 per cent to Rs102.48.

Farm eggs rose by 0.55 per cent to Rs304.42 per dozen, LPG (per 11.67kg cylinder) by 0.51 per cent toRs3089.84, gur by 0.41 per cent to Rs217.64 per kg, basmati rice by 0.41 per cent to Rs210.27 per kg, tea (prepared) by 0.17 per cent to Rs60.59, and vegetable ghee (2.5kg tin) by 0.11 per cent to Rs1,311.24.

Shirting fabric also increased by 0.07 per cent to Rs472.01 per metre. Salt (800g packet) prices increased by 0.07 per cent to Rs70.56. Mutton saw a slight rise of 0.06 per cent to Rs1913.61 while beef increased marginally by 0.03 per cent to Rs988.77.

During the week, prices of fresh milk, curd, cooked beef, telephone call charges remain unchanged.

On a year-on-year basis, some commodities have seen dramatic price surges. Gas prices for the lowest consumer slab skyrocketed by 570 per cent, onion prices climbed by 95.16 per cent, and gram pulse by 53.59 per cent. Other notable year-on-year increases included tomatoes, up by 43.21 per cent, powdered milk by 26.14 per cent, and shirting fabric by 23.7 per cent. The cost of beef, moong pulse, and georgette rose by 23.93 per cent, 23.72 per cent and 15.18 per cent, respectively. Garlic prices increased by 25.74 per cent, salt powder by 21.45 per cent, and energy saver by 12.87 per cent compared to the same week last year.

Conversely, some items have become cheaper compared to a year ago. Wheat flour prices have dropped by 36.73 per cent, chili powder by 18.94 per cent, electricity charges for Q1 by 16.91 per cent, and cooking oil (5-litre) by 11.32 per cent. Petrol and sugar prices dropped by 10.07 per cent and 16.08 per cent, respectively, diesel by 9.22 per cent, basmati rice (broken) by 8.81 per cent, and vegetable ghee (2.5kg) by 7.24 per cent. Gur was cheaper by 4.63 per cent.