Short-term inflation rises to 11.97pc, PBS data shows

Dawn reported that short-term inflation climbed to 11.97 per cent year-on-year for the week up to Oct 8, with higher food costs, especially wheat flour, providing the main push. According to Pakistan Bureau of Statistics data released on Friday, the Sensitive Price Index rose 0.57 per cent week-on-week, covering changes across food and non-food goods.

Of the 51 essential items tracked, 20 rose in price (39.22 per cent), six fell (11.76 per cent) and 25 were unchanged from the previous week. Petroleum costs have kept inflation in double digits for several weeks, and with the petroleum levy left intact, petrol and diesel rates are being revised daily. Tax analysts say higher prices also lift sales tax collection for the government.

Planning Minister Ahsan Iqbal, chairing the National Price Monitoring Committee on Thursday, voiced concern over wheat flour and asked provincial and district administrations to watch supplies, market arrivals and hoarding. The largest weekly rises were in wheat flour (5.69 per cent), chicken (4.93 per cent) and gram pulse (3.99 per cent), while bananas fell 2.81 per cent.