As of January 11, 2024, the Sensitive Price Indicator (SPI) recorded a year-on-year (YoY) increase of 44.16 percent, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.
This marks the ninth consecutive week where the weekly inflation reading has surpassed 40 percent. Notably, the YoY reading for this week stands as the highest not only in the past nine weeks but also the highest since May 25, 2023.
The upward YoY trends are primarily attributed to significant increases in gas charges for Q1 (1108.59 percent), tomatoes (155.83 percent), sugar (57.20 percent), and wheat flour (55.26 percent).
Comparing to the previous week, the SPI for the current week experienced a 1.36 percent increase. This notable uptick is particularly evident in the prices of tomatoes (15.63 percent), onions (8.94 percent), chicken (6.42 percent), electricity charges for Q1 (5.11 percent), and eggs (4.31 percent).
Throughout the week, among 51 items, prices of 21 items (41.18 percent) witnessed an increase, 8 items (15.68 percent) registered a decrease, and 22 items (43.14 percent) remained stable.
Additional Information:
Additional Information
- This is the 18th consecutive month of double-digit inflation in Pakistan.
- Food inflation is even higher, at 46.8% in urban areas and 52.2% in rural areas.
- Key drivers of inflation include:
- Rising energy prices (especially gas)
- Depreciation of the Pakistani rupee
- Global supply chain disruptions
