Rise in edible oil, flour prices fuels weekly inflation
ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), rose by 9.29 per cent year-on-year for the week ending Aug 4, mainly due to rising prices of edible oil and wheat flour, according to official data released on Friday. Short-term inflation has steadily risen, mainly driven by a sustained increase in daily petroleum prices over the past week, which has increased…
Islamabad - The Sensitive Price Index (SPI) increased by 9.29 percent on a year-over-year basis for the week of August 4, primarily due to surging prices of edible oil and wheat flour, according to official figures released on Friday. Rising crude oil prices over the past week, coupled with the escalation in transportation costs, have contributed to the growing inflation.
On a week-over-week basis, the index climbed by 0.28 percent, as reported by the Pakistan Bureau of Statistics. In parallel, the National Price Monitoring Committee, chaired by Planning Minister Ahsan Iqbal, analyzed inflation patterns and noticed a slowdown in monthly inflation. The minister subsequently directed a nationwide survey of loose edible oil, ghee, and milk following a surge in cases of cardiovascular diseases and other non-communicable illnesses, especially among younger Pakistanis.
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