Weekly inflation hits 48.35pc record high level in May 2023
ISLAMABAD: The weekly inflation in Pakistan hit a record high level of 48.35 per cent for the week ending May 4, 2023.
According to the Pakistan Bureau of Statistics, the Sensitive Price Indicator recorded an increase of 1.05 percent. Thus, the SPI surged to an all-time high of 48.35 percent on a year-on-year basis.
This was the outcome of further increase in the prices of many food and non-food items.
According to the PBS data, Wheat Flour marked a growth of 177.61 percent, Cigarettes 146.44 percent, Potatoes 123.00 percent, Gas Charges for Q1 108.38 percent, Tea Lipton 104.28 percent, Gents Sponge Chappal 100.33 percent, Diesel 99.39 percent, Eggs 95.45 percent, Rice Basmati Broken 89.31 percent, Bananas 87.86 percent, Petrol 87.81 percent, Rice Irri-6/9 84.43 percent, Pulse Moong 68.44 percent, Bread 62.83 percent and Pulse Mash 60.59 percent.
PBS data of weekly change in prices
Meanwhile, following consumer items recorded a decline in their value: Onions (16.69 percent), Garlic (3.44 percent), Tomatoes (3.41 percent), Diesel (1.70 percent), Mustard Oil (0.99 percent), LPG (0.96 percent), Cooking Oil 5 Litre (0.40 percent) and Vegetable Ghee 2.5kg & 1kg (0.10 percent) each.
Frequent increase in the tariffs of electricity, gas, petroleum products, depreciation of rupee value have contributed to an unprecedented growth in the inflation in Pakistan.
Meanwhile, the federal and provincial governments are also showing a least interest in taking action against artificial hike in prices of many consumers items which are produced in the country.
