A spike in food prices in the week ending November 21, 2024, caused the Sensitive Price Indicator (SPI), which measures weekly inflation, to hit an 18-week high of 0.67%.
According to official figures issued on Friday, short-term inflation increased for the fourth straight week.
Pakistan Bureau of Statistics (PBS) saod tatthe weekly inflation rate increased by 4.92% from the same week the previous year. However, the year-over-year figure was still at a six-year low of 4.16% that was set the week before.
According to Arif Habib Limited, the weekly inflation rate of 0.67% was the highest ever since July 18, 2024.
The primary cause of the inflation increase was women’s footwear, which increased in price by 55.62% to Rs1,399 per pair during the reviewed week from Rs899 per pair the week before.
Next in line were tomatoes, which increased 20.72% to Rs190.30/kg from Rs157.64/kg the previous week. The price of potatoes increased by 3.81% to Rs112.45, from Rs108.32/kg the previous week. From Rs644.54/kg to Rs666.57/kg, garlic increased by 3.42%.
According to the PBS, egg prices increased by 3.16% to Rs353.67 per dozen from Rs342.85 per dozen the week before.
Numerous other necessities, such as vegetable ghee, mustard oil, onions, shirts, meat, mutton, fresh milk, and some legumes, increased by 2.30 percent.
The PBS gathers pricing information for the 51 basic goods that make up SPI from 50 marketplaces spread over 17 locations.
Out of 51 goods, 17 (33.33%) had higher prices during the reviewed week, 11 (21.57%) had lower prices, and 23 (45.10%) had no change in price from the week before.
