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ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), rose by 9.29 per cent year-on-year for the week ending Aug 4, mainly due to rising prices of edible oil and wheat flour, according to official data released on Friday.
Short-term inflation has steadily risen, mainly driven by a sustained increase in daily petroleum prices over the past week, which has increased transportation costs and is also reflected in the prices of essential food items.
On a week-on-week basis, the index increased by 0.28pc, according to the Pakistan Bureau of Statistics.
Meanwhile, the National Price Monitoring Committee, headed by Planning Minister Ahsan Iqbal reviewed inflation trends and reported a deceleration in monthly inflation. The minister also ordered a nationwide survey of loose edible oil, ghee and milk over the increasing incidents of cardiovascular diseases and other non-communicable illnesses, particularly among younger Pakistanis.
