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Inflation Climbs Over 32% Weekly, Driven by Expensive Gas

Inflation Climbs Over 32% Weekly, Driven by Expensive Gas

Inflation Climbs Over 32% Weekly, Driven by Expensive Gas

Inflation Climbs Over 32% Weekly, Driven by Expensive Gas

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The Pakistan Bureau of Statistics (PBS) reported that the Sensitive Price Index (SPI) for the week ending February 29, 2024, increased by 1.27 percent. This represents a significant year-on-year rise of 32.73 percent, primarily driven by soaring prices of essential items.

The notable increases in prices include a staggering 570 percent surge in gas charges for Q1, along with substantial jumps in the prices of tomatoes (167.08 percent), chili powder (81.74 percent), wheat flour (63.51 percent), sugar (49.52 percent), gur (45.52 percent), garlic (43.22 percent), salt powder (39.30 percent), and Lipton tea (31.10 percent). However, certain items experienced price decreases, such as vegetable ghee (1 kg), bananas, mustard oil, and cooking oil.

During the week, out of 51 items monitored, prices of 14 items increased, 12 decreased, and 25 remained stable.

On a week-on-week basis, prices of gas charges for Q1 saw a staggering 570 percent increase, while bananas, onions, and eggs also experienced notable rises. Conversely, tomatoes, pulse mash, LPG, and cooking oil witnessed decreases in prices.

These fluctuations in prices indicate ongoing challenges in the market, with consumers facing the impact of rising costs for essential goods.

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