56 per cent increase in tomato prices drives weekly inflation up

ISLAMABAD: Pakistan’s short-term inflation rose by 0.38 per cent in the week ending on December 19, 2024, compared to the previous week, while it saw a 4.64 per cent increase compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).

Out of 51 essential items tracked, prices for 15 items (29.41 per cent) went up, 13 items (25.49 per cent) saw a decline, and 23 items (45.10 per cent) remained stable during the week.

Key price hikes were seen in tomatoes, which surged by 56.66 per cent, followed by firewood at 1.57 per cent, garlic at 1.40 per cent, and vegetable ghee (2.5 kg) at 0.95 per cent.

Other items with slight increases included cooking oil (5 litres) at 0.79 per cent, mustard oil at 0.74 per cent, LPG at 0.71 per cent, and sugar at 0.23 per cent.

On the flip side, notable decreases were observed in the prices of onions (down 4.16 per cent), potatoes (down 3.83 per cent), eggs (down 2.72 per cent), and diesel (down 1.17 per cent). Other items like wheat flour, bananas, basmati rice, and pulses also experienced slight price drops.

Over the year, the inflation rate rose by 4.64 per cent. The biggest yearly jumps were recorded for tomatoes (up 95.54 per cent), ladies’ sandals (up 75.09 per cent), gram pulses (up 56.75 per cent), and potatoes (up 50.81 per cent). Other essential items, including powdered milk, beef, and firewood, also saw significant increases.

Conversely, major annual price drops were seen in wheat flour (down 36.15 per cent), chilli powder (down 20.00 per cent), onions (down 13.74 per cent), and eggs (down 12.98 per cent).

The lowest income group experienced a 0.68 per cent increase in inflation for the week, while the highest income group saw a 0.30 per cent rise.

Over the year, inflation ranged between 4.53 per cent and 4.83 per cent across all income groups, with the lowest income group facing a 4.79 per cent increase and the highest income group a 4.61 per cent rise.

The average price of Sona urea stood at Rs4,558 for a 50 kg bag, reflecting a 0.36 per cent rise from the previous week and a 1.44 per cent increase over the last year.

Meanwhile, the average cement price fell slightly by 0.24 per cent to Rs1,412 per 50 kg bag, though it was still 14.31 per cent higher than last year’s prices.

The PBS tracks weekly inflation through the Sensitive Price Indicator (SPI), which monitors the price changes of 51 essential items from 50 markets across 17 cities in Pakistan.

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