Pakistan Inflation
Pakistan's weekly inflation marches ahead to touch 14-month high
Islamabad: Following an increase in petrol and diesel prices to revive the International Monetary Fund (IMF) loan programme, Pakistan's weekly inflation — based on the sensitive price index (SPI) has moved up to touch 3.38% week-on-week and 27.82% year-on-year.
The figures touched a 14-month high figure during the week which ended on June 16.
According to the data released by the Pakistan Bureau of Statistics (PBS), prices of 71% of the commodities in the SPI basket shot up, Geo News reported.
Ismail Iqbal Securities Head of Research Fahad Rauf in his note attributed the hike in the SPI to a sharp increase in the prices of petrol, electricity, and chicken.
“The quantum of increase has not been seen since the 2008 global financial crisis,” he told Geo News.
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