KARACHI: Due to an increase in vegetable prices, the weekly inflation rate based on the sensitive price index (SPI) rate sharply increased to 45.5% year-over-year, the highest level in ten years. At the same time, the country is beginning to feel the worst effects of the catastrophic floods that have affected over 33 million people.
According to data released on Friday by the Pakistan Bureau of Statistics (PBS), the SPI-based inflation rate increased from the previous week to 1.31%.
Inflation continued to rise for a third straight week, partly as a result of supply chain disruption brought on by flooding, which has driven up the cost of basic necessities. According to data made public by the Pakistan Bureau of Statistics (PBS), the average price of 31 basic products such as eggs, onions, tomatoes, and tomatoes increased over the previous week.
Three goods, including vegetable ghee, have decreased in price. In the meantime, the prices for 17 necessities remained the same.
The combined income group index increased from 219.97 to 222.85 points during the week that concluded on September 1 and the week under consideration.
In comparison to the prior week, the SPI for the lowest income category increased by 1.63%. The group’s index was 229.15 points as opposed to 225.48 points the week before.
The costs of the following necessities increased weekly:
food products:
Garlic — 42.17%
Tomates: 13.25%
(Washed) Pulse Moong: 7.94%
Potatoes: 6.97%
Eggs — 3.84%
Chicken: 3.25 %
1.49 percent wheat flour
The massive strain has been placed on the populace as a result of torrential rains and flooding, which have prevented them from accessing basic necessities and disrupted supply networks and agricultural output.
SPI is calculated on a weekly basis to evaluate the price trends of vital commodities at a more frequent interval and to analyse the overall price environment of the nation.
