Pakistan’s short-term inflation rose by a marginal 0.24% for the week ending May 8, according to data issued by the Pakistan Bureau of Statistics.
The Sensitive Price Indicator (SPI), compiled weekly by the PBS to track changes in the prices of 51 essential items across 50 markets in 17 cities, showed notable price increases for several essential commodities. Among the products whose prices surged were chicken (10.20%); eggs (7.36%); sugar (1.93%); beef (1.5%); and mutton (0.15%).
Conversely, prices of key staples saw a decline, with tomatoes falling by 8.81%; garlic 5.05%; potatoes 3.33%; onions 2.08%; and wheat flour 0.76%.
Energy prices also edged lower, with liquefied petroleum gas fetching for 1.66% less; petrol 0.83%; and diesel 0.78%. Compared to the same period last year, the SPI registered a 0.80% decrease.
Economic analysts predict headline inflation to gradually rise as the base effect diminishes, but have predicted it to remain within the State Bank of Pakistan’s target range of 5–7% in the foreseeable future.
However, broader macroeconomic uncertainties persist, with global trade markets facing tariff tensions and an escalating conflict between Pakistan and India. However, analysts note that an anticipated approval of the next tranche of the International Monetary Fund (IMF)’s $7 billion Extended Fund Facility for Pakistan should boost the country’s external accounts.