Weekly Inflation Finally Dips Below 35%

Weekly inflation dipped below 35 percent on a year-on-year (YoY) basis for the week ended on June 15, 2023, showed data released by the Pakistan Bureau of Statistics (PSB) on Friday. The year-on-year trend depicts an increase of 34.96 percent, the major increase was seen in the prices of Cigarettes (124.38 percent), Tea Lipton (114.93 percent), Wheat Flour (110.08 percent), Gas Charges for Q1 (108.38 percent), Rice Basmati Broken (79.11 percent), Rice Irri-6/9 (78.11 percent), Potatoes (67.44 percent), Bananas (67.33 percent), Gents Sponge Chappal (58.05 percent), Pulse Moong (53.41 percent), Bread (52.36 percent), Pulse Mash (52.32 percent) and Salt Powdered (49.65 percent), while a decrease was observed in the prices of Tomatoes (29.71 percent), Onions (17.94 percent), Diesel (3.89 percent) and Pulse Masoor (0.91 percent). The SPI for the current week increased by 0.20 percent over the previous week. The major increase was observed in the prices of food items, Sugar (4.24 percent), Gur (2.42 percent), Wheat Flour (1.79 percent), Curd (1.59 percent), Pulse Mash (1.25 percent), Garlic (1.15 percent), Milk Fresh (1.08 percent) and non-food item, Washing Soap (1.61 percent). On the other hand, a decrease was observed in the prices of Onions (7.56 percent), Bananas (5.00 percent), Eggs (4.86 percent), LPG (4.14 percent), Pulse Moong (2.04 percent), Pulse Gram (1.46 percent), Vegetable Ghee 1 kg (1.36 percent), Chicken (1.12 percent), Mustard Oil (0.75 percent), Cooking Oil 5 Litre (0.44 percent), Pulse Masoor (0.42 percent) and Vegetable Ghee 2.5 kg (0.36 percent). During the week, out of 51 items, prices of 19 (37.25 percent) items increased, 12 (23.53 percent) items decreased and 20 (39.22 percent) items remained stable.