Weekly Inflation Surges Over 44% Amid Soaring Gas and Food Costs

Web DeskJanuary 13, 2024
Weekly Inflation Surges Over 44% Amid Soaring Gas and Food Costs

The Sensitive Price Indicator (SPI) for the week ending on January 11, 2024, showed a significant increase of 44.16 percent on a year-on-year (YoY) basis, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. This marks the ninth consecutive week with a weekly inflation reading over 40 percent, and this week’s YoY reading is the highest since May 25, 2023.

The year-on-year trends reveal that the increase is primarily attributed to a surge in gas charges for Q1 (1108.59 percent), tomatoes (155.83 percent), sugar (57.20 percent), and wheat flour (55.26 percent).

Also Read: Weekly inflation remains above 40% for the 8th consecutive week

Compared to the previous week, the SPI for the current week increased by 1.36 percent. Major increases were observed 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).

During the week, out of 51 items, prices of 21 items (41.18 percent) increased, 8 items (15.68 percent) decreased, and 22 items (43.14 percent) remained stable.

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