For the week ending August 22, 2024, Pakistan has seen a modest decrease in short-term inflation, dropping to 16.69%—the lowest rate in 27 months. This decline represents a 0.10% reduction compared to the same week last year.
The Pakistan Bureau of Statistics (PBS) attributes this easing to falling prices in key items. Specifically, the cost of tomatoes dropped by 21.96%, and wheat flour decreased by 2.77%. Other notable reductions included onions (1.70%), sugar (1.43%), chicken (1.25%), pulse masoor (1.00%), and bread (0.61%).
However, some items saw price increases. Eggs rose by 6.10%, pulse gram by 6.05%, and potatoes by 2.41%. Additionally, prices for cooked daal, cooked beef, mustard oil, beef, shirting, milk, and LPG also increased.
Out of 51 items tracked, 21 saw price increases, 9 decreased, and 21 remained stable during the week.
Over the past year, significant price increases were seen in gas charges (570.00%), onions (79.51%), pulse gram (51.34%), and tomatoes (28.10%), among others. On the other hand, prices for wheat flour, chili powder, electricity charges, and cooking oil saw notable decreases.
The Sensitive Price Indicator (SPI) is updated weekly to provide a snapshot of essential commodity prices, helping to monitor and review price trends in the country.
