Weekly inflation clocks in at 29.42pc YoY – Business

Short-term inflation measured by the Sensitive Price Index (SPI) clocked in at 29.42 per cent year-on-year in the week ending Dec 15, on the back of higher food and fuel prices, data shared by the Pakistan Bureau of Statistics (PBS) showed on Friday.

Last week, it had been recorded at 30.66pc.

PBS data showed that the SPI declined 0.4pc on a week-on-week basis due to a decrease in the prices of tomatoes, potatoes and pulses. The SPI had remained unchanged in the preceding week ending on Dec 8.

Ismail Iqbal Securities attributed the weekly decline to the decrease in tomato and potato prices. “Tomatoes are down by 60pc from their post-flood peak of Rs225/kg.

“Major reason behind fall in tomato prices is arrival of new crop from Sindh. Vegetable prices declined in December due to seasonality,” it said in a note.

The SPI monitors the prices of 51 essential items based on a survey of 50 markets in 17 cities across the country. During the week under review, the prices of 22 items increased, nine decreased and 20 remained unchanged.

clocked in at 23.8pc in November.

According to Ismail Iqbal Securities, December inflation is expected to come in at 24.3pc.

Source link

Leave a Comment

Your email address will not be published.

9 2 3 0 0 8 0 0 1 9 1 4