Short-term inflation steady at 32.4pc

ISLAMABAD: The short-term inflation remained almost unchanged at 32.39 per cent year-on-year in the week ending March 7 amid increase in petroleum prices.

On a week-on-week basis, the SPI witnessed a 1.11pc increase. The weekly inflation measured by the Sensitive Price Index (SPI) 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.

The items whose prices saw the increase week-on-week included onions (33.86pc), potatoes (23.81pc), tomatoes (16.42pc), bananas (7.12pc), and LPG (4.43pc). The items whose prices decreased the most over the previous week included chicken (6.95pc), tea (1.29pc), cooking oil (0.96pc), and plain bread (0.51pc).

On an annual basis, the items whose prices increased the most included gas charges (570pc), tomatoes (176.55pc), chilli powder (81.74pc), wheat flour (57.04pc), onions (51.56pc), garlic (45.69pc), gur (44.94pc), sugar (41.69pc) and potatoes (39.08pc).

In contrast, the prices of vegetable ghee dropped 20.15pc year-on-year, followed by cooking oil five-litre (19.53pc), and bananas (17.95pc).