Weekly Inflation Down to Almost 3-Year Low of 12.7%

The Sensitive Price Index (SPI)-based inflation for the week ended September 19, 2024, increased by 12.72 percent on a year-on-year basis according to the Pakistan Bureau of Statistics (PBS).  According to Arif Habib Limited (AHL), the year-on-year figure is the lowest since October 2021. The year-on-year increase was mainly due to increase in the prices of gas charges for q1 (570 percent), onions (74.62 percent), pulse gram (57.34 percent), powdered milk (25.45 percent), beef (25.31 percent), tomatoes (17.98 percent), pulse moong (16.41 percent), cooked daal (15.65 percent), and salt powder (15.38 percent).  The SPI-based inflation for the week decreased by 0.52 percent over the previous week due to decline in the prices of diesel (5 percent), onions (4.45 percent), petrol (3.88 percent), tomatoes (1.93 percent), sugar (0.70 percent), potatoes & LPG (0.57 percent) each.  During the week, out of 51 items, prices of 17 (33.34 percent) items increased, 15 (29.41 percent) items decreased, and 19 (37.25 percent) items remained stable.