Weekly inflation up 0.07pc

KARACHI: Pakistan’s short-term inflation, as measured by the Sensitive Price Indicator (SPI), rose by a marginal 0.07 per cent for the week ending December 12, 2024, according to data released by the Pakistan Bureau of Statistics (PBS). On an annual basis, the SPI registered an increase of 3.71 per cent, reflecting the persistent impact of price volatility in essential commodities.

Of the 51 monitored items, prices for 18 rose, 11 fell, while 22 remained unchanged. Leading the price increases were chicken (up 3.8 per cent), vegetable ghee (2.27 per cent), and bananas (1.99 per cent), alongside moderate hikes in potatoes (1.93 per cent), mustard oil (1.07 per cent), and cooking oil (0.98 per cent). Conversely, prices of onions dropped significantly by 3.58 per cent, tomatoes by 3.1 per cent, and eggs by 2.14 per cent. Pulses such as gram and mash saw declines of 1.19 per cent and 0.59 per cent, respectively, while wheat flour prices decreased by 0.58 per cent.

The inflationary impact varied across income groups. Households earning less than Rs17,732 per month saw a weekly increase of 0.03 per cent, while the highest earners, above Rs44,175, experienced a 0.08 per cent rise. However, year-on-year inflation proved more pronounced for lower-income households at 3.68 per cent compared to 3.69 per cent for their wealthier counterparts.

In a longer-term view, some commodities have recorded steep price hikes over the year. The cost of gram pulse surged by 59.55 per cent, potatoes by 36.16 per cent, and powdered milk by 25.74 per cent. Gas charges for the lowest consumer slab jumped 15.52 per cent, underscoring the strain on energy affordability. Meanwhile, notable price decreases were observed in wheat flour, down by 35.88 per cent, and diesel, which fell by 10.77 per cent.