Weekly inflation shoots to a high of 42.31%

Basic commodities become expensive
<p>Photo:SAMAA/File</p>

Photo:SAMAA/File

The Pakistan Bureau of Statistics(PBS) has released an executive summary on the Sensitive Price Indicator (SPI) for the week ended on August 18, 2022, recording an increase of 3.35%

According to the Federal Bureau of Statistics, the weekly inflation rate rose to a new high of 42.31%.

It was recorded to affect 25 essential commodities, out of which the prices of chicken, tomato, potato, onion, dry milk, egg, and Pulse Moong have increasd.

According to the report, the prices of electricity, petrol, and cigarettes have seen a surge too.

The price of 15 food items remained stable, as per the report.

Meanwhile, the prices of Ghee, Pulse Gram, Pulse Masoor, Pulse Chana and cooking oil have been slashed, whereas a decrease in the price of sugar, LPG, diesel and firewood was also recorded.

The Sensitive Price Index (SPI) is a weekly inflationary indicator that measures the change in the cost of a fixed basket of goods and services purchased by the households in the country.

SPI is computed to assess the price movement of 53 essential commodities prevailing in 73 markets of 17 major cities of Pakistan at a short interval of time (on weekly basis) to review the price situation in the country.

It is different from the Consumer Price Index (CPI) which is released monthly and measures the overall level of inflation in the country.

The CPI in July was recorded at 24.9%.

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