ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), increased by 11.94 per cent year-on-year for the week ending July 9, mainly due to higher retail prices of perishable food items and wheat flour, according to official data released on Friday.
A slight slowdown in short-term inflation has begun, mainly due to a steep cut in petroleum product prices three weeks ago. However, there is a cushion for further reduction in oil prices.
Week-on-week, the index decreased by 0.45pc, according to the Pakistan Bureau of Statistics. The index declined over the past two consecutive weeks.
The overall SPI showed a broad-based rise, indicating continued pressure on the cost of living.
The increase was largely driven by sharp year-on-year gains in key items, including electricity charges (49.14pc), gas charges (29.85pc), wheat flour (71.22pc), and liquefied petroleum gas (25.51pc).
