Pakistan: Costly food, energy prices fuel weekly inflation

The weekly inflation slightly decelerated to 40.58 per cent largely driven by prices of essential kitchen items and high energy costs.

The weekly inflation measured by the Sensitive Price Index (SPI) posted a slight decline of 0.19pc on a week-on-week (WoW) basis that ended on Sept 15, the Pakistan Bureau of Statistics (PBS) data showed on Friday. The WoW decline has been noted for the past two consecutive weeks.

Before this, the highest ever year-on-year (YoY) increase in the SPI was 45.50pc recorded for the week ending on Sept 1, and 44.58pc, recorded for the week ending on August 25, and 42.31pc in the week ending on August 18. Last week, the SPI was recorded at 42.70pc on a YoY basis.

The latest PBS data shows that the SPI dipped slightly on a week-on-week basis, mainly because of a major drop in food prices — tomatoes and onions on account of imports from Afghanistan and Iran. The highest WoW increase in inflation was 3.68pc for the week ending July 28.

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