The Sensitive Price Indicator (SPI) recorded a further drop of 0.15% in weekly inflation for all consumption groups, citing the Pakistan Bureau of Statistics (PBS).
The SPI for the combined consumption group fell to 14% during the past week, a 0.15% decrease compared to the same week last year.
Of the 51 items tracked, prices rose for 19 items (33.33%), fell for 13 items (19.61%), and remained stable for 19 items (47.06%). Significant price increases were seen in onions (Rs5.58/kg), garlic (Rs7.38/kg), eggs (Rs1.65 per dozen), potatoes, rice, fresh milk, beef, and salt.
Meanwhile, notable decreases were observed in tomatoes (Rs19.3/kg), chicken (Rs6.73/kg), and 20-kg flour bags (Rs23.32).
Previously, the PBS reported that Pakistan’s headline inflation dropped to 9.6% year-on-year in August, down from 11.1% in July and 27.4% in August 2023. This marks a return to single-digit inflation after three years, with the last occurrence in October 2021 when CPI inflation was at 9.2%.
On a month-to-month basis, CPI inflation increased by 0.4% in August 2024, compared to a 2.1% increase in the previous month and a 1.7% increase in August 2023.
The Ministry of Finance, in its monthly economic outlook, predicted inflation to remain between 9.5% and 10.5% in August, with a further decline to 9-10% anticipated for September 2024.
