Weekly inflation decreases by 0.62%

Prices of 23 items increased, 13 decreased and 15 remained stable

ISLAMABAD:

The short-term inflation, as measured by the Sensitive Price Indicator (SPI) eased slightly to 0.62 per cent week-on-week (WoW) in the week ending on November 17, dropping from last week’s 0.74 per cent.

Meanwhile, according to the data released by the Pakistan Bureau of Statistics (PBS) on Friday, the year-on-year (YoY) increase in weekly inflation was recorded at 28.67 per cent.

During the week, Out of the 51 monitored items, the prices of 23 items increased, 13 decreased and 15 remained unchanged.

According to the date, the prices of essential items such as chicken, onion, eggs, potato, red pepper, tea, salt and wood increased last week. However, tomato, pulse masoor, pulse gram, ghee, pulse mash, pulse moong and cooking oil became cheaper.

Similarly, according to the data released by PBS, the price of garlic and wheat flour has also decreased.

The annual increase in SPI has been on the decline for some time, falling from a peak of 45.5 per cent in the week ending September 1.

Last week, the inflationary trend, which had been rising relentlessly for four months, slightly abated as the year-on-year (YoY) inflation fell from 30.6 per cent to 29.24 per cent.

However, week-on-week inflation had shown a slight increase, recording at 0.74 per cent compared to 0.53 per cent last week and a record 4.13 per cent in the week that ended on Oct 27.