Weekly inflation surge hits 15.02pc as food prices continue to climb

ISLAMABAD: Weekly inflation jumped up again, reaching 15.02 per cent year-on-year for the week ending October 17, compared to 12.74 per cent the previous week, according to official data.

This short-term inflation measured by the Sensitive Price Indicator (SPI), tracks the cost of essential items like food and household necessities, showed a 0.28 per cent increase from the previous week, the Pakistan Bureau of Statistics (PBS) said on Friday.

Of the 51 items monitored across 50 markets in 17 cities, the prices of 19 items rose, nine decreased, and 23 remained unchanged compared with the previous week.Food prices, a key driver of inflation, continued to fluctuate. Tomatoes led the weekly rise, increasing by 26.24 per cent, while moong pulse prices rose by 9.86 per cent, and gram pulse by 4.14 per cent and wheat flour rose by 2.1 per cent over previous week’s prices.

Similarly, diesel prices increased by 2.01 per cent, LPG by 1.5 percent, garlic by 1.31 per cent, chicken by 0.96 per cent, eggs by 0.68 percent, mustard oil by 0.65 per cent and firewood by 0.35 per cent.

Meanwhile, the price of onions fell by 7.02 per cent, bananas by 2.8 per cent, gur 1.8 per cent, and potatoes 1.15 per cent. Mash pulse, rice IRRI-6/9, sugar and basmati rice broken prices reduced by less than a per cent each.

Inflation increased slightly for the country’s poorest households, those earning less than Rs17,732 per month, by 0.27 per cent over the week. Higher-income groups, earning more than Rs44,175 monthly, saw a 0.28 per cent increase. Year-on-year inflation, however, rose by 10.29 per cent for the lowest earners and 13.77 per cent for the highest earners.

Some commodities have seen substantial price hikes over the past year. Gas prices for the lowest consumer slab jumped by 570 per cent, while gram pulse rose by 81 per cent. Prices for onions increased by 51 per cent, chicken tomatoes 37 per cent, chicken 35 per cent, moong pulse by 33 per cent, and powdered milk 25 per cent. Likewise, beef price increased by 24 per cent, shirting 17 per cent, georgette by 13 per cent, and ladies sandal price increased by 13 per cent over last year.

Conversely, prices for several essentials have fallen. Wheat flour is 32 per cent cheaper than a year ago, electricity charges for the lowest slab and chilies powder by 20 per cent each. Diesel price was down by 17 per cent, petrol by 13 per cent, cooking oil 9.1 per cent, rice basmati broken 8.2 per cent, sugar by 7.3 per cent, eggs by 6.2 per cent, bread and vegetable ghee were cheaper by 5.0 per cent each over last year.