ISLAMABAD - Inflation is continuously increasing in Pakistan as Sensitive Price Index-based weekly inflation has once again enhanced by 1.01 per cent in last week due to the impact of massive increase in oil products prices.

The SPI-based inflation is on the upward side from last several weeks mainly due to the currency depreciation as well as massive increase in petroleum products prices. In last one month, petroleum products prices have been increased by up to Rs119 per litre to revive stalled loan programme of International Monetary Fund (IMF). The SPI based inflation has shown an increase of 1.01 per cent during the week ended on June 23, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 190.98 points during the week ended on June 23 as compared to 189.07 point during the week ended on June 10. On annual basis, the weekly inflation has enhanced by 28.05 per cent.

Economic experts are of the view that inflation would further accelerate in the weeks to come as the government is considering to increase electricity as well as gas prices. Oil prices are expected to increase to fulfil conditions of the IMF by imposing Rs10 per litre levy and General Sales Tax.

According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 1.35 per cent increase and went up to 197.06 points this week from 194.44 points in last week. Meanwhile, the SPI for the consumption groups from Rs17,732-22,888; Rs22,889-29,517; Rs29,518-44,175 and above Rs 44,175 also increased by 1.30 per cent, 1.23 per cent, 1.15 per cent and 0.82 per cent respectively.

During the week, out of 51 items, prices of 32 (62.75 per cent) items increased, 04 (7.84 per cent) items decreased and 15 (29.41 per cent) items remained stable.

The SPI for the current week ended on 23rd Jun, 2022 recorded an increase of 1.01 per cent. Increase was observed in the prices of pulse gram (8.02 per cent), onions (5.43 per cent), pulse moong (5.21 per cent), cooking oil 5 litre (4.60 per cent), pulse mash (4.27 per cent), vegetable ghee 2.5 Kg (3.97 per cent), eggs (3.96 per cent), vegetable ghee 1 kg (3.75 per cent), pulse masoor (3.71 per cent), potatoes (2.12 per cent), wheat flour (2.08 per cent), milk fresh (1.78 per cent) and beef (1.48 per cent) with joint impact of (1.18 per cent) into the overall SPI for combined group of (1.01 per cent).

On the other hand, decrease was observed in the prices of prices of tomatoes (9.14 per cent), chicken (6.36 per cent), bananas (0.68 per cent) and mustard oil (0.33 per cent).

The prices of following commodities remained unchanged: salt powdered, chillies powder, long cloth, lawn printed, gents sandal, gents sponge, electricity charges, gas charges upto 3.3719 MMBTU, match box, firewood whole, match box, petrol super, high speed diesel and telephone call charges.

The year on year trend depicts an increase of 28.05 per cent, diesel (132.61 per cent), onions (128.92 per cent), petrol (110.16 per cent), vegetable ghee 1 kg (85.74 per cent), pulse masoor (81.73 per cent), mustard oil (79.59 per cent), cooking oil 5 litre (76.91 per cent), vegetable ghee 2.5 kg (73.02 per cent), tomatoes (72.33 per cent), garlic (54.03 per cent), washing soap (52.73 per cent), gents sponge chappal (52.21 per cent), LPG (49.65 per cent) and pulse gram (46.46 per cent),while major decrease observed in the prices of chillies powdered (43.42 per cent), sugar (10.58 per cent), pulse moong (10.40 per cent), electricity charges for Q1 (5.85 per cent) and gur (1.58 per cent).