ISLAMABAD: Pakistan’s economy faced a significant challenge as the weekly inflation, measured by the Sensitive Price Indicator (SPI), soared to 37.07% during the week ending on October 5, according to a report released by the Pakistan Bureau of Statistics (PBS) on Friday. The alarming increase of 0.11% in the SPI has raised concerns among consumers and policymakers alike.
The report highlighted that out of 51 essential items, prices of 19 (37.26%) experienced a surge, while 16 (31.37%) witnessed a decrease, and 16 (31.37%) remained stable. The most notable price hikes were observed in food items, with tomatoes seeing a staggering rise of 12.45%, followed by onions at 11.96%, garlic at 2.59%, and potatoes at 1.81%. Other significant increases were noted in cooked daal (1.27%), eggs (0.84%), beef (0.53%), and bread (0.52%). Non-food items such as LPG (3.11%), firewood (0.76%), and long cloth (0.51%) also experienced notable price hikes.
Prices of Essential Commodities in Pakistan
Conversely, the prices of essential commodities like diesel (3.33%), chicken (2.78%), petrol (2.40%), and wheat flour (0.32%) witnessed declines. Pulse masoor (1.80%), pulse gram (1.73%), and gur (1.14%) also saw reductions in their prices. The ongoing fluctuations in prices continue to impact the purchasing power of consumers, particularly for everyday essentials.
The year-on-year trend further depicted the gravity of the situation, with a notable increase in essential items such as electricity charges for Q1 (118.16%), gas charges for Q1 (108.38%), and cigarettes (94.69%). Other commodities experiencing substantial hikes included rice basmati broken (87.60%), chilies powder (84.84%), sugar (79.55%), and wheat flour (77.91%). In contrast, some relief was observed in the prices of tomatoes (54.05%), onions (18.21%), pulse gram (2.67%), and mustard oil (0.16%).
