ISLAMABAD: Short-term inflation stayed steady at 29.41 per cent year over year in the week ending March 28, official data showed on Friday.

Weekly inflation, measured by the Sen­s­itive Price Index (SPI), has remained abo­ve 30pc for the past 18 weeks. The deceleration in the SPI is primarily due to a decrease in the prices of perishable goods.

The SPI witnessed a 0.09pc week-on-week decl­i­ne as of March 28.

The administration’s stringent supervision of prices at the local level resulted in a fall in perishable products. The Ramazan Sasta Bazaar also sells vegetables and fruits at far lower prices than the main markets.

The decline in SPI comes after a consistent 11-week per­iod of inflation above 40pc, which surged from 29pc recorded on Nov 8, 2023. A surge in gas prices, electricity tariffs, and the cost of essential kitchen ite­ms fuelled the spike.

The weekly inflation hit a record 48.35pc year-on-year in early May 2023, but then decelerated as low as 24.4pc in late Aug 2023 before surging past 40pc during the week ending on Nov 16, 2023.

The items whose prices declined week-on-week incl­u­ded tomatoes (12.04pc), wheat flour (3.80pc), garlic (2.59pc), LPG (2.42pc), onions (1.74pc), potatoes (1.07pc), bananas (0.77pc), pulse gram (0.57pc), and sugar (0.49pc).

The items whose prices increased the most over the previous week included chicken (4.92pc), eggs (1.61pc), shirting (0.56pc) and rice irri 6/9 (0.15pc).

On an annual basis, the items whose pri­ces incre­ased the most included gas charges for Q1 (570pc), chillies powder (86.05pc), onions (78.98pc), gents sponge chappal (58.05pc), gents sandal (53.37pc), garlic (52.20pc), gur (37.70pc), chicken (37.57pc), salt powder (33.29pc), sugar (31.56pc), energy saver (29.83pc) and pulse mash (27.09pc).—

Published in Dawn, March 30th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Rushed legislation
06 Nov, 2024

Rushed legislation

THE law minister and defence minister had noise-blocking headphones snapped on as they rushed through half a dozen...
Jail reform policy
06 Nov, 2024

Jail reform policy

THE state is making a fresh attempt to improve conditions in Pakistan’s penitentiaries by developing a national...
BISP overhaul
06 Nov, 2024

BISP overhaul

IT has emerged that the spouses of over 28,500 Sindh government employees have been illicitly benefiting from BISP....
Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....