KARACHI: Short-term inflation in Pakistan, as measured by the Sensitive Price Indicator (SPI), jumped by 0.8% for the week ending December 26, 2024, according to data from the Pakistan Bureau of Statistics (PBS) released today (Friday).
Year-on-year inflation for the same week recorded an increase of 5.08%, reflecting the continued pressure on household budgets amid fluctuating prices.
Among the main contributors to the weekly inflationary trend, chicken prices rose 22.47%, followed by a 20.75% increase for tomatoes. Other notable increases include sugar (up 2.19%), vegetable ghee (1.17% for 1kg packets and 0.91% for 2.5kg packets) and wood. heating (0.95%). The prices of LPG and laundry soap also saw marginal increases, by 0.18% and 0.09%, respectively.
Conversely, relief was observed in the prices of onions, which fell by 8.13%, as well as those of potatoes (down 2.38%), and legumes such as mash (1 .28%) and gram (0.78%). Bananas, rice (broken basmati) and eggs also saw slight price drops (0.68%, 0.5% and 0.3% respectively).
Of the 51 essential items tracked, 17 saw their prices increase, 10 saw decreases and 24 remained stable.
Year-on-year data revealed that tomatoes are the biggest contributor to inflation, rising by a staggering 138.53%, followed by significant increases in potatoes (61.17%) and various legumes. Non-food items also saw increases, with ladies’ sandals up 75.09% and gasoline rates for the lowest consuming brackets increasing 15.52%. However, substantial declines were seen in the prices of wheat flour (down 36.2%), onions (31.21%) and diesel (7.49%).
The impact of inflation varied across income groups, with the richest quintile (monthly income above Rs 44,175) experiencing a weekly increase of 0.81%, while the lowest income group (monthly income up to Rs 17,732) witnessed an increase of 0.69%.