• Download the Constitution of Pakistan
  • Advertise
Sunday, July 20, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Weekly inflation crosses 40pc for the first time in five months

by News Publishing
February 25, 2023
in Business, Finance, Main
Reading Time: 2 mins read
0
Weekly inflation crosses 40pc for the first time in five months
Share on FacebookShare on TwitterLinkedinWhatsapp

Onions, chicken, eggs, rice, cigarettes, and fuel all saw major price increases in the previous week, according to government figures released on Friday, pushing the weekly inflation rate beyond 40% for the first time in more than five months.

The price of bananas, chicken, sugar, cooking oil, gas, and cigarettes increased, according to the Pakistan Bureau of Statistics (PBS), even if week-over-week inflation somewhat decreased.

Sensitive Price Index (SPI) data shows that as a result, short-term inflation increased from 38.42 percent the week before to 41.54 percent for the week ending on February 23.

Inflation week over week decreased to 2.78 percent from 2.89 percent a week ago. Among the 51 goods tracked, the prices of 33 items climbed, six items decreased, whereas those of 12 items stayed unchanged.

According to official figures, the prior week-over-week reading of 2.89pc was the greatest since October 27, when the change in SPI was 4.13pc.

The items whose prices rose the most during the reviewed week compared to the same week a year prior were onions (up 372%), cigarettes (up 167%), gas (up 108.38%), chicken (85.7%), diesel (up 81.36%), eggs (up 75.81%), Irri 6/9 rice (up 75.41%), broken basmati rice (up 74.16%), bananas (up 72.22%), washed moong pulse (up 70.39) and petrol 69.87pc.

In contrast, the lowest-income group’s electricity costs and the cost of tomatoes dropped the most year over year: -7.42 percent and -67.93 percent, respectively (-6.64pc).

For the lowest income category, gas prices increased by 108.4%, cigarettes by 76.45%, bananas by 6.67%, chicken by 5.27%, sugar by 3.37%, cooking oil in five-liter cans by 3.07%, vegetable ghee by 2.5kg and 1kg packs by 2.79%, and prepared tea by 1.09% week over week.

Onions dropped in price by 13.84 percent, eggs down by 5.5 percent, tomatoes dropped by 4.23 percent, garlic dropped by 3.03 percent, LPG dropped by 0.81 percent, and gram pulses dropped by 0.21 percent from the previous week.

The Consumer Price Index (CPI), which measures overall inflation, showed a 27.6 percent increase in January. But, the government has been implementing strict regulations in accordance with IMF guidelines, which are probably going to further cool the economy and fuel inflation.

In order to close the fiscal deficit, the government has already implemented a number of steps, such as adopting a market-based exchange rate, raising fuel and electricity prices, eliminating subsidies, and increasing taxation.

According to representatives, the lender and Islamabad are still in negotiations regarding debt in the power industry and a prospective increase in the policy rate, which is now set at 17 percent.

The nation’s foreign exchange reserves have fallen to only $3 billion, just enough for three weeks’ worth of imports, and the economy is in dire need of outside funding. This week, China announced a refinancing of $700 million, which the State Bank of Pakistan received on Friday.

Tags: latestPakistan Bureau of StatisticsWeekly inflation
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Pakistan welcomes supplemental award by Court of Arbitration in Indus Waters matter

Pakistan welcomes supplemental award by Court of Arbitration in Indus Waters matter

by News Publishing
June 28, 2025
0

Pakistan has welcomed the Supplemental Award issued by the Court of Arbitration in the ongoing Indus Waters Treaty dispute, affirming...

Next Post
Govt offers intending pilgrims incentives over submitting fees in US dollars

Govt offers intending pilgrims incentives over submitting fees in US dollars

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters