Web Desk
The latest data released by the Pakistan Bureau of Statistics (PBS) reveals a slight decrease of 0.42 percent in the Short-Term Inflation, as measured by the Sensitive Price Indicator (SPI), for the week ending on May 25, 2023. However, when compared to the same period last year, a significant year-on-year (YoY) increase of 45.49 percent in weekly inflation was observed.
Analyzing the price movements of the 51 monitored items, it is evident that 18 items experienced price increases during the week, while 16 items witnessed decreases. Additionally, the prices of 17 items remained unchanged. Notable increases were observed in the prices of rice (basmati broken), cooked beef, mutton, fresh milk, and beef with bone. Conversely, the prices of chicken, tomato, pulse masoor, pulse moong, wheat flour, eggs, garlic, onions, bananas, cooking oil, and LPG became cheaper during the same period.
It is worth mentioning that the short-term inflation had previously surged to an all-time high of 48.35 percent for the period ending on May 4, highlighting the volatility in price levels. However, the recent decrease in short-term inflation offers some relief to consumers.
In comparison to the previous week, the weekly inflation, as measured by the Sensitive Price Indicator (SPI), declined by 0.16 percent on a year-on-year basis for the week ending on May 18. The combined index for this period was recorded at 255.12, compared to 255.53 on May 11, 2023, while the index stood at 175.08 a year ago, on May 19, 2022.
Among the 51 monitored items, the average price of 23 items increased, 13 items decreased, and 15 items registered no change during the week, highlighting the dynamic nature of price fluctuations in the market.
These inflation figures provide valuable insights into the changing cost of goods and services, allowing policymakers and consumers to monitor and understand the overall economic trends and impacts on their purchasing power.
