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ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), surged by 9.05 per cent year-on-year for the week ending July 30, mainly due to prices of perishable food products, according to official data released on Friday.
Short-term inflation has started rising again, mainly driven by a steady increase in daily petroleum prices. As a result, the transportation cost has increased over the period of last one week. This increase in transportation prices also resulted in higher prices of essential food items.
On a week-on-week basis, the index decreased by 0.91pc 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 gains in key items on a year-on-year basis, including tomatoes (228.71pc), onions (95.36pc) wheat flour (78.65pc), diesel (37.42pc), petrol (23.28pc) and beef (13.44pc).
