Weekly inflation in Pakistan decreases to 22.32 per cent

ISLAMABAD: The weekly inflation rate in Pakistan has seen a notable decline, dropping to 22.32 per cent. This decline is particularly significant as it marks a short-term decrease in inflationary pressures.

According to a report released by the Pakistan Bureau of Statistics, the weekly inflation rate, measured by the Sensitive Price Index, experienced a decrease of 1.39 per cent, reflecting a shift in the prices of essential items across various markets in 17 cities.

The Sensitive Price Index meticulously reviews the prices of 51 essential items from 50 markets, providing crucial insights into consumer purchasing power and market dynamics.

Examining the data on an annual basis, it is evident that several key items witnessed a substantial decrease in prices. Bananas led the decline with a notable 38.79 per cent decrease, followed by wheat flour (28.21 per cent) and chicken meat (20.27 per cent).

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Conversely, some items saw a rise in prices compared to the previous week, including tomatoes (19.24 per cent) and eggs (4.73 per cent).

Furthermore, last week saw a one per cent decrease in short-term inflation, with the annualised inflation rate also declining to 24.37 per cent post this decrease.

These fluctuations in inflation rates have far-reaching implications for both the economy and consumers, influencing spending patterns and economic stability.

The decrease in the weekly inflation rate offers a glimmer of hope amidst ongoing economic challenges, providing some relief to consumers grappling with rising prices.