Inflation continues surging trend, rises to 38.28%

The short-term inflation continued its surging trend registering a 38.28% hike on a year-on-year basis, reported 24NewsHD TV channel.

According to the data provided by the Pakistan Statistics of Bureau on Friday, the weekly Sensitive Price Index (SPI) for the current week ended on October 12, 2923, increased by 0.30% while the year-on-year trend depicted a surge in inflation which has hiked to 38.28%.

As per the PSB data, a major increase is observed in the prices of food items, Tomatoes (6.28%), Eggs (3.48%), Salt Powdered (2.75%), Cooked Beef (1.06%), Garlic (1.04%), Tea Prepared (0.73%), Beef (0.39%) and Potatoes (0.35%).

Non-food item: Electricity Charges for Q1 (8.59%), Energy Saver (0.55%), Shirting (0.47%) and LPG (0.31%).

On the other hand, the major decrease is observed in the prices of Sugar (4.47%), Pulse Gram (2.75%) Bananas (2.47%), Pulse Moong (2.44%), Gur (1.93%), Chicken (1.69%) Rice IRRI-6/9 (1.46%) and Pulse Masoor (1.26%).

During the week, out of 51 items, prices of 17 (33.33%) items increased, 17 (33.33%) items decreased and 17 (33.33%) items remained stable.

The year-on-year trend depicts an increase of 38.28%, Electricity Charges for Q1 (136.89%), Gas Charges for Q1 (108.38%), Cigarettes (95.36%), Rice Basmati Broken (86.21%), Chilies Powder (84.84%), Wheat Flour (79.28%), Rice Irri-6/9 (75.98%), Sugar (71.87%), Gur (65.09%), Salt Powdered (60.78%), Tea Lipton (58.75%) and Gents Sponge Chappal (58.05%), while decrease is observed in the prices of Tomatoes (43.53%), Onions (16.67%), Pulse Gram (4.01%) and Mustard Oil (1.19%).

 

Reporter Waqas Azeem