ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), surged by 13.08 per cent year-on-year for the week ending July 16 due to rising petroleum product prices, according to official data released on Friday.
Weekly inflation has resumed its upward trend driven by higher petroleum prices. With the government shifting to a daily pricing mechanism for petroleum products, the impact of changes in fuel prices is expected to be reflected more quickly in short-term inflation.
The SPI increased by 1.40pc compared to the previous week, according to the Pakistan Bureau of Statistics.
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 (71.81pc), and liquefied petroleum gas (42.50pc).
Food inflation remained elevated, with notable increases in the prices of onions, tomatoes, potatoes, mutton, beef and wheat flour.
