Pakistan's Weekly Inflation Sees Slight Decrease Amid Oil Price Surge

In the midst of soaring oil prices, Pakistan has witnessed a slight decrease in weekly inflation, as reported by the Sensitive Price Indicator (SPI). Despite two recent hikes in oil prices by the government, the SPI-based inflation dropped by 0.79 percent for the week ending on April 18. The SPI stood at 323.71 points, down from 326.29 points the previous week.

Notably, the lowest consumption group, earning up to Rs. 17,732 per month, saw a 0.71 percent decline in SPI, reaching 313.72 points. Other consumption groups also experienced decreases: Rs. 17,732-22,888 (0.83 percent), Rs. 22,889-29,517 (0.90 percent), Rs. 29,518-44,175 (0.79 percent), and above Rs. 44,175 (0.70 percent).

During the week, out of 51 items, prices of 22 items increased, 11 decreased, and 18 remained unchanged. Items like wheat flour, bananas, and electricity charges saw price reductions, while potatoes, tomatoes, and chicken witnessed price hikes.

On a year-on-year basis, notable price increases were observed in gas charges for Q1 (570 percent), onions (155 percent), and tomatoes (126.94 percent). The data reflects a mixed trend in commodity prices, with certain items experiencing significant inflation.

In conclusion, despite oil price hikes, the overall weekly inflation in Pakistan has shown a marginal decline, providing some relief to consumers. The fluctuating prices of essential commodities continue to impact different consumption groups, highlighting the need for effective price management strategies.