Short-Term Inflation in Pakistan Down to 7-Year Low 

The Sensitive Price Index (SPI) based inflation for the week ended January 23, 2024, increased by 0.52 percent on a year-on-year basis, according to the data issued by the Pakistan Bureau of Statistics (PBS).    The year-on-year number is lowest after 7 years, according to brokerage house Topline Securities.  The year-on-year trend depicts an increase mainly due to an increase in the prices of Potatoes (44.30 percent), Pulse Gram (37.98 percent), Pulse Moong (32.67 percent), Powdered Milk (25.89 percent), Beef (22.37 percent), Vegetable Ghee 1Kg (16.87 percent), Garlic (16.28 percent), Gas Charges for Q1 (15.52 percent), Shirting (14.83 percent), Vegetable Ghee 2.5Kg (14.54 percent) and Firewood.    While major decrease was observed in the prices of Onions (51.59 percent), Eggs (39.15 percent), Tomatoes (37.43 percent), Wheat Flour (36.29 percent), Chilies Powder (20.00 percent), Electricity Charges for Q1 (18.11 percent), Pulse Masoor (11.01 percent), Pulse Mash (10.27 percent), Rice Basmati Broken (8.56 percent), Diesel (5.47 percent), LPG (1.79 percent) and Petrol (1.18 percent).     On the other hand, the SPI based inflation decreased by 0.77 percent on week-on-week basis due to a decrease in the prices of Tomatoes (32.99 percent), Eggs (10.23 percent), Onions (9.79 percent), Potatoes (7.37 percent), LPG (2.70 percent), Pulse Gram (1.61 percent), Chicken (1.00 percent), Pulse Mash (0.76 percent) and Gur (0.50 percent)  During the week, out of 51 items, prices of 14 (27.45 percent) items increased, 12 (23.53 percent) items decreased and 25 (49.02 percent) items remained stable.