Pakistan inflation crosses 33% on high petroleum prices

Pakistan inflation crosses 33% on high petroleum prices

ISLAMABAD: Inflation based on Sensitive Price Indicator (SPI) crossed 33 per cent in Pakistan by week ended July 14, 2022 over the same week last year mainly due to massive hike in petroleum prices.

The Pakistan Bureau of Statistics (PBS) on Friday issued weekly SPI for the week ended July 14, 2022.

READ MORE: Petroleum prices in Pakistan push inflation 13-year high

The SPI is computed on weekly basis to assess the price movements of essential commodities at shorter interval of time so as to review the price situation in the country. SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country.

According to the PBS, the year on year trend depicts an increase of 33.12 per cent. The major rise in prices witnessed in items, including Diesel (141.46 per cent), Petrol (119.61 per cent), Onions (89.33 per cent),  Pulse Masoor (88.60 per cent), Vegetable Ghee 1 Kg (78.92 per cent), Mustard Oil (75.72 per cent), Cooking Oil 5 litre (73.01 per cent), Vegetable Ghee 2.5 Kg (72.44 per cent), Washing Soap (59.93 per cent), Chicken (52.61 per cent), Gents Sponge Chappal (52.21 per cent), Pulse Gram (51.14 per cent), Garlic (40.54 per cent), LPG (39.95 per cent) and Pulse Mash (31.01 per cent).

READ MORE: Average inflation estimated up to 12% in FY22

While major decrease observed in the prices of Chillies Powdered (43.42 per cent), Sugar (15.13 per cent), Gur (2.41 per cent) and Pulse Moong (2.09 per cent).

The SPI for the current week ended on July 14, 2022 recorded an increase of 0.01 per cent. Increase observed in the prices of food items, Potatoes (4.72 per cent), Chicken (4.45 per cent), Cooked Daal (1.43 per cent), Rice Irri 6/9 (1.17 per cent), Rice Basmati Broken (1.14 per cent), Vegetable Ghee 2.5 Kg (1.12 per cent), Gur (1.08 per cent) and Curd (1.07 per cent).

READ MORE: Average inflation estimated up to 12% in FY22

Non-food item Washing Soap (1.59 per cent), with joint impact of (0.17 per cent) into the overall SPI for combined group of (0.01 per cent).

On the other hand, decrease observed in the prices of Tomatoes (24.55 per cent), Bananas (2.82 per cent), Pulse Gram (0.67 per cent), LPG (0.46 per cent) and Mustard Oil (0.05 per cent).

During the week, out of 51 items, prices of 29 (56.86 per cent) items increased, 05 (9.81 per cent) items decreased and 17 (33.33 per cent) items remained stable.

READ MORE: Petrol to become more precious than gold

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