iSLAMABAD: Following a substantial increase in fuel prices, Pakistan experienced a notable rise in weekly inflation, climbing by 1.89 percent and pushing the annual inflation rate to 6.44 percent, according to the Pakistan Bureau of Statistics (PBS).
The latest inflation data, released from Islamabad, indicated that the prices of 14 key items went up during the week, while nine other commodities saw a decrease.
Fuel costs contributed most to the inflation spike. Petrol prices surged by 20.60 percent week-over-week, with diesel prices rising by 19.54 percent. Liquefied petroleum gas (LPG) also saw a significant increase of 12.13 percent in the same period.
In the food sector, onion prices increased by 9.63 percent, and flour became 1.28 percent more expensive. Additionally, chicken prices rose by 0.66 percent, mash pulses by 0.55 percent, and other items such as bananas, firewood, gram pulses, and fresh milk also experienced price hikes.
Conversely, some items saw price reductions. Tomatoes decreased by 3.66 percent, potatoes became 2.86 percent cheaper, and there were slight declines in garlic, rice, and masoor pulses.
It is noteworthy that last Friday, the Pakistani government announced a significant hike in petrol prices, attributing the change to rising global oil prices driven by escalating tensions in the Middle East. During a press briefing in Islamabad, government officials announced an increase of Rs. 55 per liter in both petrol and diesel prices.
