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ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), surged by 15.16 per cent year on year in the week ending May 7, driven largely by higher retail prices of petroleum products and eatables, according to official data released on Friday.
The increase in SPI was a broad-based cost shock, reflecting persistent cost-of-living pressures. This was mainly driven by the sharpest annual increases in petrol (58.3pc), diesel (55.8pc), electricity charges (52.6pc), wheat flour (50.7pc) and LPG (48.8pc).
Moreover, short-term inflation remained elevated, driven by a surge in the prices of onions, mutton, beef and powdered milk. Some easing was observed in the prices of potatoes, pulses, sugar and eggs. However, energy-led inflation continues to weigh on household budgets and transport costs across the economy.
The SPI continued to rise for the 39th consecutive week, indicating persistent pressure on household budgets. On a week-on-week basis, however, the index increased by 0.79pc compared to the previous week, the Pakistan Bureau of Statistics said.
