Weekly Inflation Soars to 42% Due to Higher Food and Fuel Prices
According to the Pakistan Bureau of Statistics, the price of both food and non-food goods contributed to a 1.37 percent increase in the Sensitive Price Index (SPI)-based inflation for the week ended March 9, 2023. (PBS).
The price of bread has increased by 55.36 percent, while the price of onions has increased by 305.23 percent, cigarettes have increased by 165.86 percent, gas prices for the first quarter have increased by 108.38 percent, diesel has increased by 93.82 percent, eggs have increased by 78.63 percent, rice irri-6/9 has increased by 78.14 percent, petrol has increased by 77.89 percent, rice basmati broken has increased by 77.27 percent, bananas have increased (6.64 percent).
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According to the most recent PBS statistics issued on Friday, the SPI for the week under review was recorded at 243.87 points as opposed to 240.57 points obtained in the previous week. Out of 51 items, 29 (56.86 percent) saw price increases during the week, 8 (15.69 percent) saw price decreases, and 14 (27.45 percent) saw unchanged prices.
The SPI climbed by 1.62 percent, 1.55 percent, 1.40 percent, 1.29 percent, and 1.71 percent, respectively, for the consumption groups up to Rs. 17,732, Rs. 17,732-22,888, Rs. 22,889-29,517, Rs. 29,518-44,175 and beyond Rs. 44,175.
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