ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), slowed to 12.47 per cent in the week ending Oct 10 owing to a decline in the price of perishable vegetables.

The SPI-based inflation reversed to a modest decline after an increase for two consecutive weeks. It declined by 0.08pc from the previous week, official data showed on Friday.

The year-on-year incre­ase indicates that prices have risen compared to the previous year. The deceleration reflects merely a slowing in price growth. This does not suggest that prices have declined.

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.

Published in Dawn, October 12th, 2024