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Thursday, February 22, 2024  
11 Shaban 1445  

SPI inflation up by 43% YoY amid hike in gas prices

Weekly inflation was also up by 1.16% on a weekly basis
A customer buys rice at a wholesale shop in Karachi on June 8, 2023. (AFP)
A customer buys rice at a wholesale shop in Karachi on June 8, 2023. (AFP)

The Sensitive Price Indicator (SPI) surged to 42.68% year-on-year during the week ended on December 7, while the same was up by 1.16% on a week-on-week basis, data by the Pakistan Bureau of Statistics showed.

The increase in the weekly inflation was led by gas charges, which were up by 1108.59% year-on-year, cigarettes increased by 94.20%, wheat flour by 85.05%, chilies powder by 81.74%, garlic 73.09%, rice basmati broken by 68.53%, and rice IRRI 6/9 60.94%.

Similarly, gur increased by 50.56%, tea by 44.65% and pulse mash recorded an increase of 44.04% on a year-on-year basis.

Meanwhile, the prices of onions showed a decline of 22.59%, tomatoes 6.97%, mustard oil 4.04%, and vegetable ghee 1kg 3% during the period under review.

On a weekly basis, a major increase was observed in onions which showed an uptick of 8.42%, energy saver up by 3.02%, eggs recorded an increase of 2.52%, electricity charges 2.03%, and pulse moong showed up by 0.88%.

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