ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), has witnessed a slight decrease in Pakistan, the country’s statistics bureau said this week, after increasing for three weeks in a row.
The SPI, which comprises 51 essential items collected from 50 markets in 17 cities, is computed on a weekly basis to assess the price movement of essential commodities at a shorter interval of time to review the price situation in the country.
The SPI for the week ending on Jan. 2 decreased 0.26 percent on a week-on-week basis, according to the Pakistan Bureau of Statistics (PBS). Weekly inflation last decreased by 0.34 percent in Pakistan in the week ending on Dec. 5.
“During the week, out of 51 items, prices of 18 (35.29 percent) items increased, 10 (19.61 percent) items decreased and 23 (45.10 percent) items remained stable,” the PBS said in its report.
Major decrease was observed in the prices of tomatoes (13.48 percent), electricity charges for Q1 (7.48 percent), potatoes (5.59 percent), eggs (0.23 percent), garlic (0.21 percent), liquefied petroleum gas (0.18 percent) and wheat flour (0.09 percent).
The items whose prices increased during the week included chicken (10.28 percent), onions (4.93 percent), bananas (1.68 percent), diesel (1.18 percent), sugar (0.95 percent), jaggery (0.58 percent), vegetable ghee 2.5 Kg (0.53 percent) and petrol (0.21 percent).
Pakistan’s annual consumer inflation eased further to 4.1 percent in Dec. 2024, according to the PBS. Consumer inflation cooled from 4.9 percent in November, a sharp drop from a multi-decade high of nearly 40 percent in May 2023.
Pakistan weekly inflation records slight decrease after rising for three consecutive weeks
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Pakistan weekly inflation records slight decrease after rising for three consecutive weeks
- Major decrease observed in prices of tomatoes, electricity, potatoes, eggs, liquefied petroleum gas and wheat flour
- Pakistan’s annual consumer inflation eased further to 4.1 percent in Dec. 2024, according to the country’s statistics bureau
Pakistan reviews austerity measures amid Middle East crisis, urges strict nationwide implementation
- Deputy Prime Minister Ishaq Dar chairs review meeting of austerity steps
- Officials briefed on salary cuts, school closures, four‑day week, petrol conservation
ISLAMABAD: Pakistan’s government on Wednesday assessed progress on a sweeping set of austerity measures introduced to mitigate the country’s economic strain from sharply rising global oil prices and supply disruptions linked to the ongoing war in the Middle East.
Prime Minister Shehbaz Sharif this week announced a series of austerity steps, including a four‑day work week for government offices, requiring 50 percent of staff to work from home, cutting fuel allowances for official vehicles by half, grounding up to 60 percent of the government fleet and closing all schools for two weeks to conserve fuel amid the global oil crisis.
The measures were unveiled in response to global oil market volatility triggered by the conflict involving the United States, Israel and Iran, which has disrupted supply routes such as the Strait of Hormuz and pushed crude prices sharply higher, straining Pakistan’s heavily import‑dependent energy sector.
“The meeting stressed the importance of strict and transparent adherence to the austerity measures, promoting fiscal responsibility and prudent use of public resources,” Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar said in a statement.
He was chairing a meeting of the Committee for Monitoring and Implementation of Conservation and Additional Austerity Measures, constituted under the directions of the PM, bringing together federal and provincial officials to review execution of the broad cost‑cutting plan.
Dar emphasized the government’s commitment to enforcing the PM’s austerity steps nationwide. The committee’s review also covered reductions in departmental expenditure, deductions from salaries of senior officials earning over Rs. 300,000 ($1,120), and coordination with provincial administrations to ensure uniform implementation of the plan.
Participants at the meeting reiterated that all ministries and divisions must continue strict monitoring and reporting, with transparent oversight mechanisms, as Pakistan navigates the economic pressures from the prolonged Middle East crisis and its fallout on global energy and trade markets.
