Short-term inflation rises over 9pc

Dawn reported that the Sensitive Price Index (SPI) rose 9.04 per cent year-on-year in the week ending August 27, citing official data released on Friday. The rise was mainly driven by higher energy prices, as the government keeps raising petrol and diesel rates on a daily basis. Weekly movement was far smaller, with the index edging up 0.05 per cent, according to the Pakistan Bureau of Statistics.

Year-on-year gains were steepest for LPG at 55.66 per cent, followed by wheat flour at 45.28 per cent, diesel at 36.33 per cent and petrol at 29.84 per cent. The SPI has now posted increases for 72 consecutive weeks, although the pace of growth has eased. Taken together, the figures show that households are still facing cost pressure.

Higher transport costs over the past few weeks have also reached essential foods. Onions recorded the sharpest annual increase at 125.86 per cent. Week on week, tomatoes fell 18.65 per cent while chicken dropped 4.41 per cent.