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Weekly Inflation Rate Decreases For 6th Week, Still Above 40%.

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Weekly Inflation Rate Decreases For 6th Week, Still Above 40%.

(CTN News) – According to official data reported by The News on Saturday, the weekly inflation rate slightly eased in the week ending December 21.

However, it remained above 40% for the sixth consecutive week, causing concerns for consumers who faced soaring prices of eggs, firewood, and pulses. The Pakistan Bureau of Statistics (PBS) data showed that the Sensitive Price Indicator (SPI) fell by 0.51% compared to the previous week.

This decrease was mainly attributed to lower prices of potatoes, petrol, diesel, tomatoes, and sugar. Despite this decline, the SPI inflation rate still stood at a staggering 43.16% compared to the same week last year when it was 42.68%.

This high inflation has significantly eroded the purchasing power of consumers, particularly those in the lower and middle-income groups.

The reduction in SPI inflation was primarily driven by notable decreases in the prices of potatoes (13.17%), petrol (4.97%), diesel (4.68%), tomatoes (3.45%), sugar (1.16%), and other essential items. Conversely, there were significant increases in the prices of eggs (10.4%), firewood (1.23%), onions (1.19%), and various pulses.

Throughout the week, there were a total of 51 necessary items included in the SPI. Out of these, the prices of 18 items (35.29%) increased, while 9 items (17.65%) saw a decrease in prices.

Additionally, 24 items (47.06%) maintained a steady price. It is worth mentioning that individuals in the lowest income category, earning up to Rs17,732 per month,

Experienced a notable SPI inflation rate of 35.13%.

On the other hand, the higher income group, spending more than Rs44,175 per month, experienced an even higher SPI inflation rate of 40.93%. The middle quintile, ranging from Rs22,889 to Rs29,517, witnessed a weekly inflation rate of 46.46%. The latest data released by the PBS also revealed a mix of increases, decreases, and stability in various consumer goods.

Compared to the previous week, the cost of a dozen eggs increased by 10.42% to Rs388.7. The price of a 40kg bundle of firewood rose slightly by 1.23% to Rs1146. Onions also saw a price increase of 1.2%, with the per kg price remaining stable at Rs163.

Similarly, the prices of pulses increased, with moong (washed) rising by 0.88% to Rs287/gg, gram pulse by 0.8% to Rs240/kg, and mash pulse (washed) by 0.73% to Rs531/kg.

In contrast, the price of potatoes per kilogram decreased significantly by 13.17% to Rs76.8/kg. Petrol recorded a decrease of 4.97% per liter, settling at Rs268.41.

The price of Hi-Speed Diesel per liter also saw a decline of 4.68% to Rs277.29. Additionally, tomato prices decreased by 3.45% to Rs108 per kilogram, and refined sugar experienced a slight dip of 1.16% to Rs141.76 per kilogram.

Throughout the week, essential commodities such as bread, beef, mutton, and various household items maintained stable prices with no significant fluctuations.

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