Year on Year inflation increased to 43.25% amid high food prices

The high prices of food products increased the year-on-year inflation rate to 43.25% in Pakistan. The Pakistan Bureau of Statistics (PBS) has revealed this data.

PBS shows weekly inflation increased to 0.37% in the week ending December 28, 2023, due to increasing prices for food products such as onions, chicken, sugar, etc.

According to the PBS report, the sensitive pricing index (SPI) which tracks the price of 51 major products increased to 43.25% year on year up from 41.6% in the previous quarter Q5 report.

High food prices push short-term inflation to 43.25%

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Major increased prices of food items weekly

In a week, the price of onion jumped by 15.2% to Rs 188 per kilogram

Chicken farm price increased by 4.76% to Rs 358 per kilogram

Pulse Moong’s price increased by 2.9% to Rs 259 per kilogram

Pulse Gram price increased by 2.89% to Rs 247 per kilogram

The sugar price increased by 1.35% to Rs 144 per kilogram

Banana price increased by 1.05% to Rs 116 per dozen

Pulse Masoor price increased by 0.78% to Rs 259 per kilogram

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Major decreased prices of food items weekly

Potatoes price cut by 8.66% to Rs 70 per kilogram

Tomatoes price cut by 1.01% to Rs 107 per kilogram

Vegetable ghee price was cut by 0.61% to Rs 2.5 per kilogram

Cooking oil price cut by 0.44% to Rs 2,777 of 5 Litre

Eggs price cut by 0.40% to Rs 387 per dozen

Mustard oil cut by 0.24% to Rs 503 per kilogram

During the week, the prices of 15 things increased to 29.41% while nine products decreased to 17.65%, and 27 items remained at the stable price of 52.94%.

According to sources based on Geo News, the SPI inflation rate for persons earning up to Rs 17,732 per month was 35.75%. While the inflation rate for those spending more than Ra 44,175 per month was 41.6%.

However, the inflation rate weekly for the middle-class group whose earning lies between Rs 22, 889 to Rs 29,517 was 46.99%. This inflation rate is the highest of any category.