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Pakistan’s Weekly Inflation Update: SPI Records 0.96% Surge

Pakistan’s Weekly Inflation Update: SPI Records 0.96% Surge – The Pakistan Bureau of Statistics (PBS) has released its latest report on the Sensitive Price Index (SPI), revealing a notable 0.96 percent increase for the week ending on April 04, 2024, compared to the previous week.

Pakistan's Weekly Inflation Update: SPI Records 0.96% Surge

Year-on-year analysis paints a stark picture, with a substantial 29.45 percent surge primarily attributed to soaring prices in various essentials. Gas charges for Q1 skyrocketed by a staggering 570 percent, while significant increases were also noted in onions (107.59 percent), chilies powder (86.05 percent), garlic (53.51 percent), and tomatoes (35.77 percent), among others.

However, amidst the inflationary tide, some relief was observed in certain commodities. Prices of bananas (26.68 percent), cooking oil (20.53 percent), and wheat flour (5.86 percent) exhibited notable declines, offering a semblance of respite to consumers.

Pakistan’s Weekly Inflation Update: SPI Records 0.96% Surge

Analyzing the weekly trends, out of 51 items surveyed, prices of 16 items surged, 13 witnessed a decrease, while 22 remained stable. Notable increases during the week included tomatoes (11.93 percent), petrol super (3.45 percent), and chicken (2.99 percent), contributing to the overall inflationary pressure.

Conversely, prices of bananas (3.57 percent), wheat flour bag (2.68 percent), and eggs (1.89 percent) registered declines, offering a brief reprieve for consumers grappling with escalating costs.

The volatile nature of prices underscores the challenges faced by consumers and policymakers alike in navigating the economic landscape. As Pakistan grapples with persistent inflationary pressures, efforts to mitigate the impact on vulnerable populations remain paramount.

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The PBS report serves as a crucial barometer for policymakers and consumers alike, providing insights into the shifting economic landscape and guiding decision-making processes. With inflationary pressures showing no signs of abating, proactive measures will be essential to safeguard the purchasing power of citizens and foster sustainable economic growth.

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