Pakistan’s weekly inflation eases

Pakistan’s weekly inflation rate eased by a third of a percentage point over the previous week driven by a decline in some kitchen items’ prices, especially pulses, chicken, onions, rice, sugar, and wheat flour.

During the week ending on October 26, chicken prices in one week dropped by 10.2 percent to Rs312/kg, while onions became 4.4 percent cheaper at Rs98/kg. Rice IRRI-6 price decreased by 3.8 percent to Rs161/kg, banana 3.6 percent to Rs112/dozen. Other items that saw price decline include gur (3.4pc down to Rs215/kg), masoor pulse (2.4pc down to Rs311/kg), sugar (2.2pc down to Rs143/kg), mustard oil (2.2pc to Rs500/kg), wheat flour (1.6 percent to Rs2706/20kg bag), the Bureau of Statistics reported. Due to the decline in the prices of these items, the weekly inflation rate slowed.

On the other hand, some items became dearer during the week under review. Tomatoes price increased by 20.8pc to Rs131/kg, potatoes by 3.3 percent to Rs101/kg, eggs by 1.6 percent to Rs327/dozen. Additionally, salt powder price went up by 1 percent to Rs65/packet, and garlic by 0.8 percent to Rs519/kg.

The weekly Sensitive Price Index (SPI) that monitors the price movement of mostly kitchen items stood at 29.65 percent in the week over the same week a year earlier.

For the lowest income group earning up to Rs17,732/month, the SPI inflation stood at 28.66pc, while for the group earning more than 44,175/month, it was recorded at 29.61 percent.

For the week concerned, average prices of 14 items (27.45pc) registered an increase, 17 items (33.33pc) registered a decrease, while prices of 20 items (39.22pc) did not show any change, the SPI bulletin said.