KARACHI: Pakistan’s weekly inflation remained stubbornly high at 2.78 percent weekly and 41.54 percent year-on-year in the seven-day period ended February 23, official data showed on Friday.
The latest data of Sensitive Price Index (SPI) released by Pakistan Bureau of Statistics (PBS) showed that in the first quarter (108.38%), cigarettes (76.45%), bananas (6.67%), gas prices Wow has declared the increase. Chicken (5.27%), sugar (3.37%), cooking oil 5 liters (3.07%), vegetable ghee 2.5kg (2.79%), vegetable ghee 1kg (2.20%) and prepared tea (1.09%).
To secure International Monetary Fund (IMF) approval for a $1.1 billion tranche of the $6.5 billion bailout package under the Extended Fund Facility, the government of Pakistan nearly doubled gas charges to 3.3719 mmBtu. Earlier this rate was Rs 147.57 which is now Rs 295.
Consumers last saw a 42.7% year-on-year rise in SPI during the week ending September 8, 2022 when wheat flour prices hit an all-time high due to widespread flooding across the country.
PBS has attributed the rise in gas charges to onions (372.03%), cigarettes (164.71%), first quarter (108.38%), chicken (85.65%), diesel (81.36%), eggs (75.81%) and SPI. I cited the reason for the annual increase. %), Rice Ari-6/9 (75.41%), Rice Basmati Broken (74.16%), Banana (72.22%), Dal Mung (70.39%), Petrol (69.87%), Tea (62.76%), Dal gram (%) 57.02%, bread (55.36%), plus mash (53.90%) and LPG (52.59%).
However, it also noted reductions in tomato prices (67.93%), chilli powder (7.42%) and electricity charges for Q1 (6.64%).
A sharp rise in SPI inflation was expected.
Analysts said last week that inflationary pressures will intensify as the government takes tax measures and adjusts electricity, petroleum and gas prices to unlock the IMF program.
Consumers are being weighed down by rising prices of kitchen essentials, especially food items.
According to PBS data, the average price of 1 kg of broiler chicken during the week under review was Rs 469.81 as against Rs 446.29 last week. Only Rs 23.52 per Kg.
17,732 for groups spending up to Rs. 17,733-22,888 rupees; 22,889-29,517 rupees; 29,518-44,175 rupees; and above Rs.44,175; WOW SPI increased by 2.42, 2.86, 2.32, 2.18, and 3.10% respectively.
On the other hand, the YoY SPI for the expenditure groups increased by 37.81, 39.80, 40.95, 41.94, and 42.98 percent, respectively.
For the week under review, the SPI was recorded at 241.29 points as against 234.77 points registered last week and 170.47 points during the week ended February 24, 2022.
