Short-term inflation as assessed by the Sensitive Price Index (SPI) reached an all-time high of 46.65 percent year-over-year (YoY) for the week ending on March 22, mostly due to a significant increase in food prices.
The year-over-year rate of short-term inflation last week was 45.64 percent, according to statistics released by the Pakistan Bureau of Statistics (PBS) on Friday. Short-term inflation rose by 1.80 percent week over week due to price increases in wheat flour, tomatoes, and potatoes.
The SPI monitors the prices of 51 essential items based on a survey of 50 markets in 17 cities across the country. 26 goods had a rise in price during the week under review, 12 items saw a drop in price, and 13 items saw no change in price.
The short-term inflation mostly due to a significant increase in food prices. It rose by 1.80 percent week over week due to price increases in wheat flour, tomatoes, and potatoes.
Based on a study of 50 marketplaces in 17 locations throughout the nation, the SPI tracks the costs of 51 necessities. 26 goods had a rise in price during the week under review, 12 items saw a drop in price, and 13 items saw no change in price.
Below is the increased percentage of items:-
Highest WoW rise:
Onions by 228.28%, Cigarettes 165.88%, Wheat flour 120.66%, Gas Charges for first quarter 108.38% and Diesel 102.84%.
Highest YoY fall: Chillies powdered 9.56%.
Highest WoW rise:
Tomatoes 71.77%, Wheat flour 42.32%, Potatoes 11.47%, Bananas 11.07% and Tea Lipton 7.34%.
Highest WoW fall:
Chicken 8.14%, Chillies powdered 2.31%, Mustard oil 1.19%, Garlic 1.19% and Pulse gram 1.06%.
According to statistics available, prices grew at the quickest rate in the country’s history last month. Food, beverage, and transportation costs contributed to this rapid inflation, which has caused analysts to express concern that “families will have to make choices and sacrifices.”
CPI increased by 31.6 percentage points in February compared to the same month last year.
