Short-Term Inflation in Pakistan Falls to 6.5-Year Low  

The Sensitive Price Index (SPI) based inflation for the week ended January 16, 2024, increased by 1.16 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 in 6.5 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 (47.91 percent), Pulse Gram (39.77 percent), Pulse Moong (33.40 percent), Powdered Milk (25.77 percent), Beef (22.59 percent), Vegetable Ghee 1 Kg (16.34 percent), Gas Charges for Q1 (15.52 percent), Cooked Daal (15.43 percent), Garlic (15.27 percent), Shirting (14.83 percent) and Firewood (13.02 percent).   While major decrease was observed in the prices of Onions (47.22 percent), Wheat Flour (35.89 percent), Eggs (31.92 percent), Chilies Powder (20.00 percent), Tomatoes (19.83 percent), Electricity Charges for Q1 (18.11 percent), Pulse Masoor (11.10 percent), Pulse Mash (9.20 percent), Rice Basmati Broken (8.90 percent), Diesel (5.47 percent) and Petrol (1.18 percent).    On the other hand, the SPI based inflation decreased by 0.39 percent on week-on-week basis due to a decrease in the prices of Tomatoes (18.31 percent), Potatoes (10.42 percent), Onions (10.01 percent), Eggs (8.64 percent), Chicken (2.17 percent), LPG (1.21 percent), Pulse Mash (0.81 percent), Mustard Oil (0.67 percent) and Garlic (0.54 percent).   During the week, out of 51 items, prices of 21 (41.18 percent) items increased, 10 (19.61 percent) items decreased and 20 (39.21 percent) items remained stable.