Pakistan's weekly inflation rises 0.23%, driven by fuel prices

Pakistan's weekly inflation rate rose 0.23% during the week ended September 10, pushing the annualized weekly inflation rate to 8.62%, according to data released Friday by the Pakistan Bureau of Statistics.

The Sensitive Price Indicator, which tracks prices of essential commodities on a weekly basis, showed that prices of 14 items increased during the week, while 10 items became cheaper.

Fuel prices rise

Petrol prices increased 6.18% on a weekly basis, while diesel prices rose 5.49%, the statistics bureau said.

Liquefied petroleum gas (LPG) prices also climbed 4.32% during the week, while the price of gram lentils, or mash dal, increased 0.79%. Washing soap became 0.49% more expensive.

Food prices mixed

Food prices showed a mixed trend during the week.

Banana prices fell 7.73%, while tomatoes became 5.24% cheaper. Chicken prices declined 4.22%, while onions and potatoes fell 3.72% and 1.88%, respectively.

Despite the weekly decline, onion prices remained significantly higher than a year earlier, rising 125.52% on an annual basis.

Annual inflation

On a year-on-year basis, LPG prices surged 55.42%, while diesel became 45.26% more expensive and petrol prices increased 39.10%.

Wheat flour prices rose 30.18% over the year, while electricity costs increased 25.24%, according to the data.

Among major food items, potato prices declined 35.21% and chicken became 24.30% cheaper on an annual basis. Sugar prices also fell 20.88% compared with the same period last year.

The latest weekly inflation data highlights continued pressure from energy prices, despite declines in several food commodities.