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Articles for tag: Inflation, reverses, SPI, trend, Weekly

April 6, 2024

News Desk

Weekly inflation reverses trend

KARACHI: The weekly inflation reading rose a surprising 0.96% in the week ending April 4, 2024, fueled by rising food, energy and footwear prices. This marked the end of the slowdown in weekly inflation recorded in the previous two weeks. According to data compiled by the Pakistan Bureau of Statistics (PBS), prices of women’s sandals (footwear) rose 12.52% to Rs 899 per pair ahead of Eid celebrations next week. This was followed by an 11.93% rise in tomato prices which touched Rs 103.77 per kg compared to Rs 92.71/kg last week. Gents sandal became expensive by 8.70% at Rs 2,499/pair,

March 2, 2024

News Desk

Inflation falls to 16-month low

Islamabad: Pakistan’s inflation fell sharply to 23.1% last month – the lowest rate in 16 months – due to a sharp decline in food inflation combined with a high base effect, creating room for a rate cut by the central bank . Inflation of 23.1% in February was still below both market and government expectations. A day earlier, the Treasury had forecast a range of 24.5% to 25.5% for the February reading. Food inflation, non-food inflation and headline inflation all slowed significantly, highlighting that the overall faster pace may now be starting to slow. The Pakistan Bureau of Statistics reported

March 2, 2024

News Desk

SPI rises to 7-week high amid rising gas prices

KARACHI: Pakistan’s inflation rose to a seven-week high of 1.27% in the week ended February 29, mainly due to the government’s recent significant hike in natural gas prices, which weighed heavily on short-term inflation figures. Weekly SPI (Sensitive Price Indicator) inflation had slowed to 0.04% in the previous week ending February 22, 2024. According to Pakistan Bureau of Statistics (PBS) data, inflation increased by 32.73% in the week under review compared to the same week last year, indicating that short-term inflation remained high. The SPI rose 1.27% weekly on the back of a 15.52% rise in natural gas prices to

November 11, 2023

News Desk

SPI hits seven-week high

KARACHI: In the past week ending November 8, 2023, the Sensitive Price Index (SPI) surged to a seven-week high, registering 0.73% weekly inflation. This increase was attributed to a marked rise in food prices, as reported by the Pakistan Bureau of Statistics (PBS). Tomatoes saw the biggest rise, rising 15.43% during this period, followed by a 4.47% rise in potato prices. Other significant increases were in wheat flour prices at 2.36%, garlic at 2.16%, salt powder at 1.82%, chicken at 1.60%, Lipton tea at 0.96%, georgette at 0.95%, bananas at 0.94% and shirt. 0.58%. Of the 51 items, 39.22% saw

November 9, 2021

The Pakistan Daily

Govt to stop release of weekly Sensitive Price Index after severe public backlash due to inflation

ISLAMABAD: After severe criticism due to uncontrolled inflation, the federal government has decided to stop the release of weekly Sensitive Price Index (SPI) data and instead release monthly Consumer Price Index (CPI). According to Business Recorder, this decision was taken by the Federal Cabinet in its meeting held on November 2, 2021, presided over by Prime Minister, Imran Khan. Finance Ministry briefed the Cabinet that weekly SPI increased by 1.23 per cent on the week ending October 28, 2021, whereas it rose the subsequent week by 1.38 per cent. The cabinet was informed that prices of 25 items went up,

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