Weekly Inflation Drops to 4%, Lowest Level Since 2018

• Price hikes were noted in pulse gram, pulse moong, powdered milk, beef, onions, and garlic.
• Wheat flour, chili powder, diesel, and petrol saw significant price drops.
• Week-on-week inflation rose by 0.55% due to increases in tomatoes, eggs, garlic, and LPG.

The Sensitive Price Index (SPI) inflation for the week ending November 14, 2024, showed a 4.16% increase on a year-on-year basis, according to data released by the Pakistan Bureau of Statistics (PBS). This marks the lowest year-on-year inflation since October 2018, as reported by brokerage firm Topline Securities.

The increase in inflation was largely driven by significant price hikes in items such as pulse gram (74.53%), pulse moong (38.88%), powdered milk (25.74%), beef (23.02%), onions (22.78%), garlic (17.41%), and gas charges for Q1 (15.52%).

However, the data also showed notable price reductions, including a 34.98% decrease in wheat flour, 20.00% in chili powder, 13.92% in diesel, and 11.64% in petrol.

On a week-on-week basis, SPI inflation rose by 0.55%, largely due to higher prices of tomatoes (16.86%), eggs (5.01%), garlic (4.30%), and LPG (4.10%).

Out of 51 items, 24 (47.06%) experienced price increases, 6 (11.76%) saw price decreases, and 21 (41.18%) remained stable.

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