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  • 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

  • Pakistan records 33.66% rise in prices of essential items

    Pakistan records 33.66% rise in prices of essential items

    KARACHI: Pakistan has recorded a massive increase of 33.66 per cent in prices of essential items by week ended July 06, 2022 when compared with same week last year, according to official data released on Friday.

    Pakistan Bureau of Statistics (PBS) said that the inflation based on Sensitive Price Indicator (SPI) recorded 33.66 per cent increase on YoY basis for week ended July 06, 2022.

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

    According to the bureau, the year on year trend depicts an increase of 33.66 per cent, Diesel (141.46 per cent), Petrol (119.61 per cent), Onions (101.98 per cent), Pulse Masoor (88.16 per cent), Vegetable Ghee 1 Kg (83.03 per cent), Cooking Oil 5 litre (79.29 per cent), Mustard Oil (77.60 per cent), Vegetable Ghee 2.5 Kg (74.87 per cent), Washing Soap (57.43 per cent), Gents Sponge Chappal (52.21 per cent), Pulse Gram (51.80 per cent), LPG (49.11 per cent), Tomatoes (44.71 per cent), Garlic (43.23 per cent) and Chicken (41.09 per cent).

    READ MORE: New prices of petroleum products in Pakistan from July 01, 2022

    While major decrease observed in the prices of Chillies Powdered (43.42 per cent), Sugar (12.57 per cent), Pulse Moong (3.23 per cent) and Gur (2.57 per cent).

    The SPI for the week ended on July 6, 2022 recorded an increase of 1.32 per cent. Increase observed in the prices of food items, Garlic (5.06 per cent), Potatoes (2.57 per cent), Vegetable Ghee 2.5 Kg (1.64 per cent), Cooked Daal (1.50 per cent), Wheat Flour (1.46 per cent), Pulse Gram (1.32 per cent), Tea Prepared (1.09 per cent) and Pulse Masoor (1.02 per cent), nonfood items Petrol (6.36 per cent), Diesel (5.06 per cent) and LPG (2.33 per cent), with joint impact of (0.85 per cent) into the overall SPI for combined group of (1.32 per cent).

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

    On the other hand, decrease observed in the prices of Tomatoes (5.12 per cent), Onions (1.03 per cent), Mustard Oil (0.70 per cent), Bananas (0.43 per cent) and Pulse Mash (0.12 per cent).

    During the week, out of 51 items, prices of 30 (58.82 per cent) items increased, 05 (9.81 per cent) items decreased and 16 (31.37 per cent) items remained stable.

    READ MORE: SBP jacks up policy rate by 6.75% to 13.75%

  • Pakistan’s import bill records over $80 bn in 2021/2022

    Pakistan’s import bill records over $80 bn in 2021/2022

    KARACHI: The total import bill of Pakistan has crossed a record $80 billion mark, showing 42 per cent increase during fiscal year 2021/2022, according to official data released on Tuesday.

    The total import bill of the country increased to $80.02 billion during fiscal year 2021/2022 as compared with $58.38 billion in the preceding fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).

    READ MORE: Pakistan’s trade deficit balloons $43.33 bn in 11 months

    The exports of the country also posted an increase of 25.51 per cent to $31.76 billion during the fiscal year under review as compared with $25.30 billion in the preceding fiscal year.

    Pakistan posted a record trade deficit of $48.26 billion in the fiscal year 2021/2022 as compared with the deficit of $31.07 billion in the preceding year, showing an expansion in deficit of 55.29 per cent.

    READ MORE: Pakistan’s imports hit record high at $65.47 bn in 10 months

    The import bill in June 2021 increased by 14 per cent to $7.72 billion when compared with $6.77 billion in the month of May 2022. It was increased by 21.57 per cent when compared with $6.35 billion in June 2021.

    READ MORE: Pakistan’s March trade deficit widens by only 5.5%

    The exports posted an increase of 10 per cent to $2.88 billion in June 2022 when compared with $2.63 billion in May 2022. The exports increased by 5.83 per cent when compared $2.73 billion with June 2021.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

  • Prices of essential items surge by 28% in Pakistan

    Prices of essential items surge by 28% in Pakistan

    ISLAMABAD: The prices of essential items have recorded 28 per cent increase Year on Year (YoY) by week ended June 16, 2022, Pakistan Bureau of Statistics (PBS) said on Friday.

    The surge in prices have been seen following the massive increase in prices of petroleum products by the government during last three rounds: first on May 27, 2022; second on June 02, 2022; and the last one on June 15, 2022.

    READ MORE: Prices of essential items rise by 20% on first POL rate jump

    However, the cumulative effect of inflation is expected to be seen in coming weeks.

    The latest Sensitive Price Indicator (SPI) based inflation for the week ended June 16, 2022 has shown massive increase in prices of essential items over the same week last year.

    Following are the rates that have witnessed increase during last one year:

    READ MORE: Pakistan’s headline inflation up by 13.8% in May 2022

    Onions (135.31 per cent), Diesel (132.61 per cent), Tomatoes (117.27 per cent), Petrol (110.16 per cent), Vegetable Ghee 1 Kg (81.76 per cent), Mustard Oil (80.88 per cent), Pulse Masoor (74.77 per cent), Cooking Oil 5 litre (71.52 per cent), Vegetable Ghee 2.5 Kg (68.47 per cent), LPG (60.97 per cent), Garlic (57.72 per cent), Washing Soap (52.73 per cent), Gents Sponge Chappal (52.21 per cent) and Chicken (51.11 per cent).

    There are some other essential items that have witnessed decline in prices on YoY basis:

    Chillies Powdered (43.42 per cent), Pulse Moong (18.06 per cent), Sugar (10.79 per cent), Electricity charges for Q1 (5.85 per cent) and Gur (3.35 per cent).

    READ MORE: Pakistan’s inflation sharply up by 13.4% in April 2022

    The comparison of prices of essential items on week on week basis, showed 3.38 per cent.

    Increase observed in the prices of food items Chicken (12.10 per cent ), Potatoes (6.89 per cent), Cooked Daal (5.90 per cent), Pulse Gram (5.29 per cent) and Cooked Beef (5.19 per cent),non-food items Diesel (28.91 per cent), Gents Sponge Chappal (26.76 per cent), Gents Sandal (15.40 per cent), Petrol (11.43 per cent), Electricity Charges for Q1 (6.63 per cent) and Cigarettes (6.27 per cent), with joint impact of (2.53 per cent) into the overall SPI for combined group of (3.38 per cent).

    On the other hand, decrease observed in the prices of Onions (5.20 per cent), Wheat Flour (2.19 per cent), LPG (1.32 per cent), Bananas (0.83 per cent), Gur (0.45 per cent) and Sugar (0.02 per cent).

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

  • Prices of essential items rise by 20% on first POL rate jump

    Prices of essential items rise by 20% on first POL rate jump

    ISLAMABAD: The prices of essential items recorded an increase of 20 per cent owing to first jump in petroleum prices announced a week ago, official documents revealed on Friday.

    The inflation based on Sensitive Price Indicator (SPI) has increased by 20.04 per cent on year on year basis by week ended June 02, 2022, according to data released by Pakistan Bureau of Statistics (PBS).

    READ MORE: Pakistan’s headline inflation up by 13.8% in May 2022

    On week on week (WoW) basis the SPI recorded a two percent for the week ended June 02, 2022 over the previous week ended May 06, 2022.

    The SPI determines the price fluctuation in basic kitchen items on weekly basis. The Sensitive Price Indicator comprises 51 essential items collected from 50 markets in 17 cities.

    The latest surge in prices of essential items is the result of increase in prices of petroleum products that were announced on May 26, 2022 and effective from May 27, 2022.

    READ MORE: Pakistan’s inflation sharply up by 13.4% in April 2022

    The federal government on May 26, 2022 announced a sharp increase of Rs30 per cent liter each on all petroleum products.

    The price hike in essential items likely to rise alarmingly and may reflect in the SPI of next week ended June 9, 2022 as the government again increased the prices of petroleum products on June 02, 2022.

    According to the PBS, the SPI for the current week ended on June 02, 2022 recorded an increase of 2 per cent.

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

    Increase observed in the prices of food items Potatoes (9.08 per cent), Eggs (6.38 per cent), Vegetable Ghee 1 kg (4.59 per cent), Bread (2.72 per cent), Mustard Oil (2.65 per cent), Pulse Masoor (2.33 per cent), Cooking Oil 5 litre (2.18 per cent), Pulse Gram (1.99 per cent), Sugar (1.93 per cent), Cooked Beef & Pulse Mash (1.69 per cent) each, Vegetable Ghee 2.5 kg (1.51 per cent) and Bananas (1.35 per cent), non-food items Hi-Speed Diesel (20.69 per cent), Petrol Super(19.91 per cent) and Toilet Soap (1.40 per cent) with joint impact of (2.09 per cent) into the overall SPI for combined group of (2.00 per cent).

    On the other hand, decrease observed in the prices of Chicken (4.68 per cent ), Garlic (2.75 per cent), Wheat Flour (1.91 per cent), Tomatoes (1.26 per cent) and LPG (0.74 per cent).

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    During the week, out of 51 items, prices of 28 (54.90 per cent) items increased, 05 (9.81 per cent) items decreased and 18 (35.29 per cent) items remained stable.

    The year on year trend depicts an increase of 20.04 per cent, Onions (177.62 per cent), Tomatoes (152.57 per cent), Mustard Oil (70.50 per cent), Vegetable Ghee 1 Kg (68.02 per cent), Garlic (67.44 per cent), Pulse Masoor (66.92 per cent), Petrol (64.78 per cent), Cooking Oil 5 litre (64.72 per cent), Vegetable Ghee 2.5 Kg (62.43 per cent), LPG (60.14 per cent), Diesel (56.45 per cent) and Washing Soap (42.92 per cent), while major decrease observed in the prices of Chillies Powdered (43.42 per cent), Pulse Moong (21.62 per cent), Electricity charges for Q1 (11.71 per cent), Sugar (11.16 per cent), Bananas (9.95 per cent), Potatoes (6.89 per cent) and Gur (1.46 per cent).

  • Pakistan’s trade deficit balloons $43.33 bn in 11 months

    Pakistan’s trade deficit balloons $43.33 bn in 11 months

    ISLAMABAD: Pakistan’s trade deficit ballooned to $43.33 billion during first 11 months (July – May) of fiscal year 2021/2022 owing to massive rise in import bill during the same period.

    According to trade data released by Pakistan Bureau of Statistics (PBS) on Thursday, the trade deficit widened by 58 per cent to $43.334 billion during first eleven months of the current fiscal year as compared with $27.45 billion in the corresponding months of the last fiscal year.

    READ MORE: Pakistan’s imports hit record high at $65.47 bn in 10 months

    Pakistan’s import bill massively increased to $72.18 billion during the period under review as compared with $50.03 billion in the same period of the last fiscal year, showing an increase of 44.28 per cent.

    On the other hand, exports have increased by 28 per cent to $28.85 billion during July – May 2021/2022 as compared with $22.57 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s March trade deficit widens by only 5.5%

    The exports registered 55.66 per cent growth to $2.60 billion in the month of May 2022 as compared with $1.67 billion in the same month of the last year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    Meanwhile, import bill for the month of May 2022 increased by 25.43 per cent to $6.44 billion as compared with $5.297 billion in the same month of the last year.

    This resulted in widening of trade deficit by 11.50 per cent to $4.043 billion in the month of May 2022 as compared with the deficit of $3.62 billion in the same month of the last year.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

  • Pakistan’s headline inflation up by 13.8% in May 2022

    Pakistan’s headline inflation up by 13.8% in May 2022

    ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased by 13.8 per cent in May 2022 on Year on Year (YoY) basis as compared with 13.4 per cent in the previous month, Pakistan Bureau of Statistics (PBS) said on Wednesday.

    The latest inflation number is also higher when compared with 10.9 per cent in May 2021.

    READ MORE: Pakistan’s inflation sharply up by 13.4% in April 2022

    On month-on-month basis, it increased by 0.4 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.1 per cent in May 2021.

    CPI inflation Urban, increased by 12.4 per cent on year-on-year basis in May 2022 as compared to an increase of 12.2 per cent in the previous month and 10.8 per cent in May 2021.

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

    On month-on-month basis, it increased by 0.3 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.2 per cent in May 2021.

    CPI inflation Rural, increased by 15.9 per cent on year-on-year basis in May 2022 as compared to an increase of 15.1 per cent in the previous month and 10.9 per cent in May 2021. On month-on-month basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and decrease of -0.03 per cent in May 2021.

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    Sensitive Price Indicator (SPI) inflation on YoY increased by 14.1 per cent in May 2022 as compared to an increase of 14.2 per cent a month earlier and an increase of 19.7 per cent in May 2021.

    On MoM basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.5 per cent a month earlier and increase of 0.8 per cent in May 2021.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    Wholesale Price Index (WPI) inflation on YoY basis increased by 29.6 per cent in May 2022 as compared to an increase of 28.1 per cent a month earlier and an increase of 19.4 per cent in May 2021.

    WPI inflation on MoM basis increased by 1.4 per cent in May 2022 as compared to increase of 3.2 per cent a month earlier and increase of 0.3 per cent in corresponding month i.e. May 2021.

  • Pakistan’s imports hit record high at $65.47 bn in 10 months

    Pakistan’s imports hit record high at $65.47 bn in 10 months

    ISLAMABAD: Pakistan’s imports reached to record high at $65.49 billion during first 10 months (July – April) 2021/2022, according to data released by Pakistan Bureau of Statistics (PBS).

    The import bill increased by 46.41 per cent to $65.47 billion during first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the current fiscal year.

    READ MORE: Pakistan’s March trade deficit widens by only 5.5%

    On the other hand, the exports of the country registered a growth of 25.46 per cent to $26.23 billion during the period under review as compared with $20.9 billion in the same period of the last fiscal year.

    The trade deficit sharply widened by 64.79 per cent to $39.26 billion during July – April 2021/2022 as compared with $23.83 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    The exports of the country recorded an increase of 29.53 per cent to $2.87 billion in the month of April 2022 as compared with $2.22 billion in the same month of the last year.

    The import bill in April 2022 recorded an increase of 26.19 per cent to $6.62 billion as compared with $5.42 billion in the same month last year.

    The trade deficit ballooned by 23.74 per cent to $3.74 billion in April 2022 as compared with $3.02 billion in April 2021.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

    Similarly, the exports recorded an increase of 3.27 per cent to $2.87 billion in April 2022 when compared with $2.78 billion in March 2022.

    The import bill recorded an increase of 2.96 per cent to $6.62 billion in April 2022 as compared with $6.43 billion in the preceding month.

    The trade deficit widened by 2.72 per cent to $3.74 billion in April 2022 when compared with $3.64 billion in March 2022.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

  • Pakistan’s inflation sharply up by 13.4% in April 2022

    Pakistan’s inflation sharply up by 13.4% in April 2022

    ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased sharply by 13.4 per cent in April 2022, according to details released on Sunday.

    Pakistan Bureau of Statistics (PBS) said that CPI inflation General, increased by 13.4 per cent on year-on-year basis in April 2022 as compared to an increase of 12.7 per cent in the previous in March 2022 and 11.1 per cent in April 2021.

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 0.8 per cent in March 2022 and increase of 1.0 per cent in April 2021.

    CPI inflation Urban, increased by 12.2 per cent on year-on-year basis in April 2022 as compared to an increase of 11.9 per cent in the previous month and 11.0 per cent in April 2021.

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 0.7 per cent in the previous month and increase of 1.3 per cent in April 2021.

    CPI inflation Rural, increased by 15.1 per cent on year-on-year basis in April 2022 as compared to an increase of 13.9 per cent in the previous month and 11.3 per cent in April 2021.

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 1.0 per cent in the previous month and increase of 0.6 per cent in April 2021.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    Sensitive Price Indicator (SPI) inflation on YoY increased by 14.2 per cent in April 2022 as compared to an increase of 13.0 per cent a month earlier and an increase of 21.3 per cent in April 2021.

    On MoM basis, it increased by 1.5 per cent in April 2022 as compared to increase of 0.6 per cent a month earlier and increase of 0.4 per cent in April 2021.

    READ MORE: Sales tax exempted on all petroleum products

    Wholesale Price Index (WPI) inflation on YoY basis increased by 28.1 per cent in April 2022 as compared to an increase of 23.8 per cent a month earlier and an increase of 16.6 per cent in April 2021.

    WPI inflation on MoM basis increased by 3.2 per cent in April 2022 as compared to increase of 3.9 per cent a month earlier and a decrease of -0.4 per cent in corresponding month i.e. April 2021.

  • Pakistan’s March trade deficit widens by only 5.5%

    Pakistan’s March trade deficit widens by only 5.5%

    ISLAMABAD: Pakistan’s trade deficit in the month of March 2022 increased by only 5.5 per cent due to higher growth of exports during the month.

    According to data released by Pakistan Bureau of Statistics (PBS) on Monday, the exports recorded a growth of 16 per cent to $2.74 billion in March 2022 as compared with $2.36 billion in the corresponding month of the last year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    On the other hand, import bill registered an increase of 10 per cent to $6.19 billion in the month of March 2022 as compared with $5.63 billion in the same month of the last year.

    Therefore, the trade deficit for the month of March 2022 was recorded at $3.45 billion as compared with the deficit of $3.27 billion in March 2021, showing an increase of 5.5 per cent.

    Overall the trade deficit widened by 70 per cent to $35.39 billion during first nine months (July – March) 2021/2022 as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

    The exports of the country recorded an increase of 24.67 per cent to $23.3 billion during first nine months of the current fiscal year as compared with $18.7 billion in the same months of the last fiscal year.

    Meanwhile, import bill registered an increase of 48.63 per cent to $58.69 billion during July – March 2021/2022 as compared with $39.49 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

    The balance of trade registered a deficit of 11.63 per cent to $3.45 billion in March 2022 as compared with the deficit of $3.09 billion in February 2022.

    The exports recorded a decline of 3 per cent to $2.74 billion in March 2022 as compared with $2.82 billion in February 2022.

    However, import bill recorded 4.72 per cent increase to $6.19 billion in March 2022 when compared with $5.9 billion in the previous month of 2022.

    READ MORE: Pakistan’s trade deficit widens by 112% to $20.59 billion