ISLAMABAD: Pakistan witnessed a significant year-on-year surge, recording a 41.90 percent increase in the week ending on November 16, primarily driven by escalating gas prices, as reported by the Pakistan Bureau of Statistics (PBS) on Friday.
As per the Sensitive Price Index (SPI), weekly inflation also surged by a substantial 9.95 percent on a week-on-week basis, PBS data revealed.
During the reviewed week, out of 51 items, prices of 25 (49.02 percent) items increased, 13 (25.49 percent) items decreased, and 13 (25.49 percent) items remained stable.
Items that experienced an increase in average prices on a week-on-week basis included gas (480.0 percent), tea packets (8.88 percent), pulse masoor (5.28 percent), chicken (3.99 percent), garlic (3.09 percent), salt powdered (2.93 percent), wheat flour (2.64 percent), tea prepared (2.07 percent), LPG (2.03 percent), potatoes (2.00 percent), and shirting (1.10 percent).
Inflation in Pakistan
Items that recorded a decrease included electricity charges (16.06 percent), tomatoes (11.16 percent), sugar (4.24 percent), diesel (2.15 percent), onions (1.49 percent), vegetable ghee 1 kg (1.39 percent), petrol (0.73 percent), cooking oil 5 liters (0.65 percent), rice irri-6/9 (0.42 percent), vegetable ghee 2.5 kg (0.28 percent), and gur (0.27 percent).
It is noteworthy that Pakistan’s caretaker government approved a 3900 percent increase in natural gas prices for different consumer categories. The average gas cost for protected consumer slabs (0.25hm3 to 0.9hm3) is set to rise by up to 300 percent, with an estimated annual bill increase of up to 150 percent. The tariff increase for commercial consumers, cement factories, and CNG stations has also been significantly raised.
