ISLAMABAD: Short-term inflation has been on a downward trajectory for the third week in a row, decelerating to 34.25 per cent year-on-year in the week ending Feb 15, official data showed on Friday.

This comes after a consistent 11-week period of inflation above 40pc, which surged from 29pc recorded on Nov 8, 2023. The spike was primarily fuelled by a surge in gas prices, electricity tariffs, and the cost of essential kitchen items.

The SPI witnessed a 0.78pc week-on-week decline as of Feb 15.

The items whose prices saw a decrease week-on-week included eggs (28.82pc), chicken (4.23pc), onions (3.48pc), LPG (2.85pc), Gur (1.13pc), wheat flour (0.32pc), tomatoes (0.29pc), pulse masoor (0.28pc) and mustard oil (0.18pc).

The items whose prices increased the most over the previous week included bananas (4.64pc), potatoes (2.80pc), matchbox (1.31pc), long cloth (1.29pc), cooked daal (0.77pc), shirting (0.63pc), energy saver (0.62pc), pulse moong, rice basmati (0.56pc) each, mutton (0.48pc), cooked beef (0.39pc) and pulse mash (0.35pc).

However, on an annual basis, the items whose prices increased the most included gas charges for Q1 (1,108.59pc), tomatoes (134.09pc), chillies powder (81.74pc), cigarettes (77.13pc), wheat flour (66.12pc), gents sponge chappal (58.05pc), sugar (54.59pc), gents sandal (53.37pc), gur (49.38pc), salt powdered (39.97pc), tea Lipton (33.22pc), and garlic (32.06pc).

In contrast, the prices of bananas dropped 18.29pc year-on-year, followed by mustard oil (15.67pc), vegetable ghee 1kg (15.34pc), cooking oil 5-litre (10.35pc) and vegetable ghee 2.5kg (9.56pc).

Published in Dawn, February 17th, 2024