Saturday January 01, 2022

Weekly Inflation Crosses 20pc

KARACHI: Weekly inflation inched lower after two weeks as prices of fresh vegetables dropped down, but high electricity and gas prices continued to burden middle and low income groups, with year-on-year inflation at almost two-year high.

Weekly sensitive price indicator (SPI) declined 0.5 percent week-on-week, with year-on-year numbers jumping 20.05 percent during the seven-day period ended December 30, 2021, Pakistan Bureau of Statistics (PBS) data showed on Friday. Last time YoY SPI was seen around the current range was during the week ended January 16, 2020, a little less than two years ago, when it ended at 20.02 percent.

Decrease in prices of food items tomatoes (30.92 percent), potatoes (7.92 percent), chilli powder (5.78 percent), onions (2.39 percent), wheat flour (0.42 percent), pulse mash (0.22 percent) and non-food item LPG (1.59 percent) had a joint impact of (-0.70 percent) in overall SPI for the combined group.

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