Weekly inflation up by 1.72percent: PBS
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The Pakistan Bureau of Statistics (PBS) has a weekly report on inflation registering another increase in inflation by 1.72 percent, 24NewsHD TV Channel reported on Friday.
Pakistan’s Consumer Price Index (CPI) based inflation increased to 27.4 percent on a year-on-year basis in August 2023 as compared to an increase of 28.3 percent in the previous month and 27.3 percent in August 2022.
According to the Pakistan Bureau of Statistics (PBS), on a month-on-month basis, it increased to 1.7 percent in August 2023 as compared to an increase of 3.5 percent in the previous month and an increase of 2.4 percent in August 2022.
The coming months could see inflation go higher as the government has substantially increased petroleum prices in the last month. However, petroleum prices are not the only issue. The rupee has depreciated rapidly against the US dollar in the last two weeks which could further fuel inflation.
In August, the price of tomatoes increased by 75.3 percent, spices by 16.9 percent, and eggs by 16.2 percent.
In a month, sugar 9, dal mash, and dry milk became expensive by 5.5 percent, PBS added. Wheat products increased by 5 percent, potato by 4.3 percent, rice by 2.6 percent while the price of liquid fuel increased by 14.6 percent, motor fuel by 8.2 percent, the Bureau said.
Electricity charges went up by 1.37 percent in August and transport fares in cities increased by 22 percent and postal charges by 20 percent in August, the PBS said.
In one year, cigarettes became 117.4 percent, flour 99.6 percent and tea 94.5 percent expensive.
On an annual basis, sugar 70.6 percent, chicken 67.5 percent, and rice 66.8 percent became expensive.
The price of wheat increased by 64 percent, potato by 59.7percent, and wheat products by 59 percent on an annual basis.
Gas charges rose 62.8 percent in one year while household goods increased by 40.3 percent, vehicle equipment by 4.6 percent, and construction materials by 26.5 percent.
Electricity charges increased by 8.24percent in one year, Pakistan Bureau of Statistics concluded.