Short-term inflation hits 11.92% on food, energy costs

ISLAMABAD: Short-term inflation in Pakistan climbed to 11.92 percent year-on-year for the week ending September 24, pushed up mainly by costlier food and energy, according to official data released by the Pakistan Bureau of Statistics on Friday.

The Sensitive Price Index rose 0.99 percent from the previous week, the bureau said. The annualised reading has now stayed in double digits for several consecutive weeks.

The bureau linked the persistent price pressure to repeated increases in petroleum prices. Dawn reported that the government, unwilling to cut the petroleum development levy, has been raising petrol and diesel prices on an almost daily basis, with only a few exceptions.

Higher fuel prices push up transport and food distribution costs, adding to the squeeze on household budgets across the country. The weekly index tracks the price of a basket of essentials, including food, fuel and utilities, and is closely watched as an early signal of inflationary trends.

The latest increase means a basket of goods that cost 100 rupees a year ago now costs 111.92 rupees, while on a week-on-week basis the same basket is nearly one percent more expensive than it was seven days earlier.

The rise comes as consumers grapple with elevated living costs. The bureau's bulletin did not provide an item-wise breakdown in the information available, but the year-on-year acceleration was mainly due to higher food prices, according to the data.

Dawn reported that the government has left the petroleum development levy unchanged and has been passing higher international fuel costs to consumers through almost daily price adjustments, with few exceptions.