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Pakistan's short-term inflation continues to spiral, marking its 16th straight weekly rise as food and energy prices soar across the country.
The Sensitive Price Index (SPI) recorded a 3.53 per cent year-on-year increase for the week ending November 20, largely driven by escalating costs of edible oil, sugar and other essential commodities. Official data released on Friday showed that while weekly inflation increased marginally by 0.07 per cent from the previous week, the broader trend reveals persistent price hikes that have gripped the economy for months. The relentless upward trajectory reflects the growing strain on ordinary Pakistanis, who are already burdened by shrinking purchasing power and stagnant incomes, as reported by Dawn. According to Dawn, the latest surge is primarily attributed to disruptions in the supply of perishable goods such as vegetables and flour, triggered by the closure of the Pakistan-Afghanistan border. The disruption has led to shortages in local markets, further intensifying inflationary pressures. Meanwhile, steep price increases in sugar and meat have compounded household expenses. Pakistan's inflation trajectory remains volatile. The SPI had reached a historic 48.35 per cent in May 2023 before dropping to 24.4 per cent in August. However, inflation has rebounded sharply, once again exceeding 40 per cent in mid-November. Economists warn that such fluctuations point to structural weaknesses in supply management and energy pricing policies. The data also indicated that while some items experienced minor price relief, most essential goods continued their upward climb or remained unchanged. This highlights the government's inability to stabilise markets despite repeated assurances and intervention measures, as cited by Dawn. The SPI, which tracks the prices of 51 essential goods across 17 cities, shows that inflationary pressure remains deeply entrenched in Pakistan's economy. The growing burden of food and fuel costs has left millions struggling to afford daily necessities, intensifying public frustration and exposing Pakistan's inability to curb runaway prices, as reported by Dawn. (ANI)
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