Weekly inflation in Pakistan witnesses 0.16pc decrease

The weekly inflation in Pakistan, measured by the Sensitive Price Indicator (SPI), witnessed a decrease of 0.16 percent for the combined consumption groups during the week ended on August 15, while the annual rate of inflation in the country came down to 16.86 percent, reported 24NewsHD TV channel.

Pakistan Bureau of Statistics (PBS) released weekly inflation reported on Friday. The prices of 19 essential commodities increased in a week while 13 commodities prices dropped and 19 remained stable, according to the Bureau of Statistics.

During the week, out of 51 items, prices of 19 items increased, 13 items decreased and 19 items prices remained stable.

The items, which recorded major decrease in their average prices on a week-on-week basis included onions (4.91%), petrol (3.15%), diesel (2.44%), wheat flour (1.83%), pulse moong (1.81%), chicken (1.57%), bananas (1.36%), LPG (0.90%), sugar (0.59%), potatoes (0.58%) and pulse masoor (0.56%).

The commodities which recorded major increase in their average prices on week-on-week basis included tomatoes (34.77%), eggs (4.78%), garlic (1.99%), beef (0.88%), cooked beef (0.41%), georgette (0.40%), gur (0.39%), curd (0.32%) and mustad oil (0.28%).

On-year basis, the commodities that witnessed decrease included wheat flour (34.46%), chilies powder (17.78%), electricity charges for q1 (16.91%), cooking oil 5 litre (11.10%), petrol (10.07%), diesel (9.22%), vegetable ghee 2.5 kg (8.84%), rice basmati broken (8.59%), vegetable ghee 1 kg (6.85%), mustard oil (5.43%), sugar (5.17%) and washing soap (0.35%).

The commodities which recorded an increase in their average prices on year-on-year basis included gas charges for q1 (570.00%), onions (125.64%), pulse gram (42.00%), tomatoes (27.77%), powered milk (26.51%), garlic (25.16%), gents sandal (25.01%), pulse moong (24.64%), shirting (23.84%), beef (23.71%), salt powder (21.14%) and long cloth (16.64%).

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 322.03 points as compared to 322.54 points during the past week.

Compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 16.86 per cent. The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

However, the SPI for the lowest consumption group of up to Rs 17,732, witnessed a nominal increase of 0.07 per cent and went up to 311.04 points from last week’s 310.83 points. The SPI for the lowest consumption groups of Rs 17,732-22,888 also witnessed a nominal increase of 0.01 percent whereas for consumptions groups from Rs 22,889-29,517; Rs 29,518-44,175 and above Rs 44,175, it decreased by 0.05 percent, 0.10 and 0.25 percent respectively.

Reporter: Waqas Azeem