A slight increase in weekly inflation has been recorded in Pakistan. According to the Pakistan Bureau of Statistics, the Sensitive Price Index (SPI) increased by 0.15 percent in the week ending August 13. The annual rate was 9.11 percent.
The statistics bureau reviewed the prices of 51 basic commodities. Of these, 20 items became more expensive, 9 became cheaper, while the prices of 22 remained unchanged. The SPI collects prices from 50 markets in 17 cities of the country.
Onion was the most expensive commodity during the week. Its price increased by 24.68 percent. Chana dal became expensive by 3.35 percent and chicken by 2.45 percent.
Other expensive items included LPG, tea, mustard oil, curd, lentils and garlic. LPG prices were 0.67 percent while tea became more expensive by 0.63 percent.
On the other hand, some important items provided some relief to consumers. Petrol became cheaper by 2.35 percent during the week, while tomato prices decreased by 1.26 percent.
Potatoes became cheaper by 0.73 percent and bananas by 0.36 percent. Prices of pulses, moong, dal mash, eggs, sugar and jaggery also recorded a decrease.
The latest data shows significant fluctuations in food prices. The shortage of petrol reduced the overall pressure somewhat, but the inflation of onions and other food items kept it limited.
The annual data also presents an important picture of price pressure. The price of tomatoes increased by 143.77 percent and onions by 125.75 percent in a year. Wheat flour also became more expensive by 77.41 percent.
Energy prices also continued to increase year-on-year. LPG was 55.41 percent more expensive, diesel by 34.05 percent and petrol by 23.02 percent. These rates are based on comparison with the same week last year.
However, a few items have also become cheaper compared to a year ago. The price of potatoes decreased by 30 percent and sugar by 17.93 percent. Chicken prices also fell by 17.45 percent.
The weekly SPI is an important measure of short-term price trends. The Bureau of Statistics uses it to track changes in the prices of basic necessities every week.
The latest report shows that the overall weekly increase is limited. However, the sharp increase in some daily consumption items can have a greater impact on household budgets.
Especially, the sharp increase in the price of basic vegetables like onions is a major problem for low-income households. Therefore, along with the overall SPI, the separate trend of food prices is also important.
In the coming weeks, seasonal supply, petroleum product prices and supply conditions in local markets may affect prices. It will be important for the government to monitor sudden increases in essential items along with overall inflation.
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