SPI-Based Weekly Inflation Declines By 0.58 Percent.

ISLAMABAD -- After showing massive increase in last few weeks, inflation based on Sensitive Price Index (SPI) has finally recorded minor decline of 0.58 percent during the week ended on September 8 over the preceding week.

The SPI based inflation has recorded decline of 0.58 percent during the week ended on September 8 over the preceding week, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 221.55 points during the week ended on September 8 as compared to 222.85 point during the week ended on September 1. On annual basis, the weekly inflation has enhanced to 42.7 percent. In the preceding week, SPI based inflation had enhanced to all time high of 45.5 percent due to the continuous increase in oil prices and flood damages.

Recent floods caused by abnormally heavy monsoon rains have adversely affected important and minor Kharif crops which may impact the economic outlook through agriculture performance. The massive increase in electricity tariff as well as in petroleum products are another factors that contributed to the price spike. However, in last week, prices of some vegetables especially onions and tomatoes have recorded decline after the government had decided to import these vegetables from Afghanistan and Iran.

During the week, out of 51 items, prices of 26 (50.98 percent) items increased, 09 (17.65 percent) items decreased and 16 (31.37 percent) items remained stable.

An increase was observed in the prices of LPG (10.66 percent), wheat flour (4.15 percent), eggs (3.96 percent), bread (3.27 percent), pulse moong (2.74 percent), curd (2.72 percent), tea Lipton (2.50 percent), pulse gram (1.65 percent), chicken (1.58 percent), milk fresh (1.57 percent), fire wood (1.54 percent) and potatoes (1.02 percent).

The SPI for the current week ended on 08th September, 2022 recorded a decrease of 0.58 percent. Decrease was observed in the prices of food items, onions (41.99 percent), tomatoes...