Short-term inflation rises to 12.31% as LPG and tomato prices climb
Pakistan's short-term inflation reached 12.31 percent year on year in the week ending November 5. Higher LPG and perishable food prices drove the rise, the Pakistan Bureau of Statistics said.
- Weekly Sensitive Price Index up 0.29 percent; annual rate 12.31 percent
- Tomatoes rose 54.18 percent in a week, LPG 3.72 percent
- LPG is up 114.88 percent on a year earlier
- Petrol fell 4.20 percent and diesel 2.97 percent in the week
Pakistan's short-term inflation rose to 12.31 percent year on year in the week ending November 5, according to figures the Pakistan Bureau of Statistics released on Friday. Higher prices of liquefied petroleum gas (LPG) and perishable food items drove the increase.
The Sensitive Price Index, which tracks weekly inflation, rose 0.29 percent over the week. It covers 51 essential commodities across 50 markets in 17 cities. Prices of 21 items rose, 10 fell and 20 were unchanged. Short-term inflation has stayed in double digits for several consecutive weeks.
Tomatoes recorded the biggest weekly increase, at 54.18 percent. LPG rose 3.72 percent and potatoes 2.07 percent. Eggs rose 1.17 percent, garlic 1.06 percent and firewood 1.01 percent. Fresh milk, plain bread and curd also became slightly more expensive.
Some prices fell during the week. Petrol dropped 4.20 percent and diesel 2.97 percent. Gram pulse, bananas, onions, powdered milk and chicken were cheaper, while sugar, wheat flour and moong pulse eased slightly.
On an annual basis, LPG prices are up 114.88 percent and tomatoes 78.89 percent. Electricity charges for the first quarter rose 52.38 percent. Diesel rose 39.27 percent and petrol 36.34 percent, while wheat flour rose 33.95 percent and chicken 31.81 percent.
Other annual increases include ground chili at 15.55 percent, goat meat at 14.54 percent, onions at 13.64 percent, plain bread at 12.35 percent and beef at 11.06 percent. Potatoes fell 37.24 percent over the year, eggs 27.59 percent and sugar 25.03 percent. Salt powder, gur, lentils and rice were also cheaper.
Daily Pakistan reported that the government has announced a cut in fuel prices, with petrol 9.41 rupees and diesel 5.56 rupees cheaper per litre. Daily Times reported that oil prices fell for three consecutive days and that the effect will show in the next review.
Background
khabr.pk reported on 3 November that LPG prices had risen sharply since two Iranian border crossings closed on 17 October, according to traders, and that rickshaw drivers running on the fuel said their earnings had fallen by more than half.
Why it matters
Households that use LPG for cooking face costs more than double those of a year ago, according to the weekly index. Tomatoes, flour and chicken are also considerably dearer than last year, adding to food bills. Rickshaw drivers who run on LPG are affected as well. Lower petrol and diesel prices this week offer some relief on fuel.
