ISLAMABAD: The short-term inflation, measured by the Sensitive Price Indicator (SPI), eased to a two-year low of 20.09 per cent year-on-year during the week ending on July 25, official data showed on Friday.
On a week-on-week basis, the SPI-based inflation was 0.17pc compared to 0.19pc last week.
Though SPI inflation has eased in the outgoing week, a reading of over 20pc is still high. The government has imposed several indirect taxes which have taken effect on July 1, thereby serving to keep inflation high in recent days.
The costs of pulses, stationery and poultry products began to rise following the imposition of sales tax on these items through the budget.
The latest data showed that the items whose prices increased week-on-week included chicken (4.80pc), garlic (2.01pc), pulse gram (1.87pc), eggs (1.71pc), and beef (0.93pc).
The items whose prices decreased the most over the previous week included tomatoes (9.19pc), onions (2.14pc), LPG (1.04pc), bananas (0.53pc), and wheat flour (0.35pc).
Annually, the items whose prices rose the most included gas charges (570pc), onions (96.01pc), pulse gram (40.39pc), powered milk (39.11pc), garlic (34.61pc), pulse moong (29.77pc), men’s sandal (25.01pc), shirting (24.97pc), beef (23.52pc), salt powder (23.28pc), and pulse mash (22.50pc).
In contrast, the prices of wheat flour dropped 31.75pc, followed by a five-litre pack of cooking oil (13.44pc), vegetable ghee 2.5kg (10.42pc), vegetable ghee 1kg (9.85pc), mustard oil (8.33pc), eggs (5.82pc), rice basmati broken (4.15pc) and packaged tea (2.52pc).
Published in Dawn, July 27th, 2024
