Pakistan’s weekly inflation rises on higher food prices

ISLAMABAD: Pakistan’s short-term inflation edged up 1.03 per cent in the week ending May 15, driven largely by surging food prices, according to data released by the Pakistan Bureau of Statistics.

The Sensitive Price Indicator (SPI), which tracks weekly price changes of essential goods, rose 1.29 per cent compared to the same week last year.

The latest data shows prices of 18 out of 51 monitored items increased, 12 fell, and 21 remained unchanged during the week.

Among the biggest weekly gains were chicken, up 15.95 per cent, and eggs, which rose 8.34 per cent. Sugar, powdered milk and gram pulse also posted notable increases. In contrast, prices of tomatoes, garlic and onions declined, falling by 5.20 per cent, 3.45 per cent and 2.57 per cent respectively.

Year-on-year data shows a mixed trend. While chicken prices jumped 47.22 per cent and sandals for women surged over 55 per cent, prices of onions and potatoes dropped sharply, down 53.29 per cent and 29.84 per cent respectively. Electricity charges for the first quarter were also down nearly 30 per cent from a year earlier.

The inflation impact varied across income groups. Weekly inflation for the lowest income segment rose 0.92 per cent, while the highest income group saw a slightly higher increase of 1.03 per cent. On an annual basis, the lowest income group faced a 0.42 per cent rise in prices, compared to 2.23 per cent for highest income bracket.

The SPI tracks retail prices of 51 essential items gathered from 50 markets in 17 cities, offering a short-term snapshot of the cost of living in the country.

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