Saturday June 18, 2022

Weekly Inflation Hits 14-year-hight in Pakistan

KARACHI: Following an increase in petrol and diesel prices to revive the International Monetary Fund (IMF) loan programme, the weekly inflation — based on the sensitive price index (SPI) — surged 3.38% week-on-week and 27.82% year-on-year hitting a 14-year high during the week ended June 16.

According to the data released by the Pakistan Bureau of Statistics (PBS), prices of 71% of the commodities in the SPI basket shot up. The data showed that an increase was observed in the prices of:

  • Diesel —28.9%,
  • Gents sponge chappal — 26.76%,
  • Gents sandal — 15.40%,
  • Chicken — 12.10%,
  • Petrol —11.43%,
  • Potatoes — 6.89%,
  • Electricity charges for Q1 — 6.63%,
  • Cigarettes — 6.27%,
  • Cooked daal — 5.90%,
  • Pulse gram — 5.29%,
  • Cooked beef — 5.19%

It is worth mentioning that the joint impact of the increase in prices of these commodities was 2.53% in overall SPI for the combined group.

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