Weekly inflation in Pakistan decreased by 0.34% for the combined consumption group, marking the sixth consecutive week of decline. Out of 51 items surveyed, 12 saw price increases, 18 experienced decreases, and 21 remained stable. Year-on-year inflation rose by 21.31%, with notable increases in gas charges, onions, and chilies powder, and decreases in bananas and wheat flour.
ISLAMABAD: The weekly inflation measured by the Sensitive Price Indicator (SPI) decreased by 0.34 percent for the combined consumption group during the week ended on May 23, ARY News reported.
This is the sixth straight decrease in weekly inflation on a week-on-week basis.
During the week, out of 51 items, prices of 12 (23.53 percent) items increased, 18 (35.29 percent) items decreased and 21 (41.18 percent) items remained stable.
Some of the items, prices of which, increased during the period under review include beef with bone (0.49 percent), pulse gram (0.42 percent), tea prepared (0.30 percent), mutton (0.25 percent), gur (0.22 percent), curd (0.11 percent), milk fresh (0.06 percent) and pulse mash (0.01 percent).
Selected items prices of which decreased during the period under review include garlic (7.87 percent), chicken (5.92 percent), wheat flour bag 20 kg (4.66 percent), LPG (3.23 percent), onions (1.99 percent), eggs (1.22 percent), rice basmati broken (1.12 percent), pulse masoor (0.95 percent), rice irri-6/9 (0.84 percent), pulse moong (0.57 percent), tomatoes (0.47 percent), bread plain (0.38 percent), bananas (0.34 percent), sugar (0.25 percent), mustard oil (0.24 percent), potatoes (0.07 percent) and firewood whole 40 kg (0.04 percent).
Year-on-year trend:
The year-on-year trend depicts an increase of 21.31 percent mainly due to an increase in the prices of gas charges for Q1 (570 percent), onions (88.26 percent), chilies powder (69.71 percent), garlic (53.46 percent), tomatoes (38.63 percent), salt powder (32.72 percent), shirting (30.39 percent), gents sandal (25.01 percent), beef (23.70 percent), energy saver (22.48 percent), pulse mash (21.79 percent) and sugar (20.18 percent) while decrease was observed in the prices of bananas (38.32 percent), wheat flour (30.82 percent), chicken (23.18 percent), cooking oil 5 litre (18.83 percent), vegetable ghee 1 kg (16.07 percent), vegetable ghee 2.5 kg (16.02 percent), mustard oil (12.49 percent), LPG (10.92 percent) and eggs (7.62 percent).
Pakistan’s economy has shown a positive sign as the weekly inflation has continued to decrease for the sixth consecutive week. This downward trend in inflation is a promising development that indicates the government’s efforts to stabilize the economy are yielding results. The consistent decrease in inflation is a welcome relief for businesses and consumers, providing a glimmer of hope in the midst of economic challenges. As Pakistan navigates through the complexities of its economic landscape, the sustained decline in weekly inflation offers a ray of optimism for the nation’s financial future. With careful monitoring and proactive measures, this trend may pave the way for a more stable and prosperous economic environment in the future.
Source: ARY NEWS
Inflation in Pakistan falls for the sixth consecutive week, with a 0.34% decrease in the Sensitive Price Indicator. Out of 51 items, prices of 12 increased, 18 decreased, and 21 remained stable. Year-on-year trend shows a 21.31% increase, attributed to various factors including gas charges, onions, and garlic, while prices of bananas, wheat flour, and chicken decreased significantly.
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