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Pakistan’s weekly inflation rate increased by 0.45%.

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7 months ago

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The SPI in the aforementioned category was 309.91 points for the week under review, compared to 308.52 points for the previous week, based on PBS data.

The SPI for the combined consumption group saw a 21.69 percent increase in the week under review compared to the same week the previous year.

51 basic goods for all expenditure groups and 17 urban centers are covered by the weekly SPI with the base year 2015–16 = 100.

From 298.82 points the previous week, the SPI for the lowest consumption category, up to Rs 17,732, increased by 0.81 percent to 301.25 points.

The SPI climbed by 0.70 percent, 0.56 percent, 0.51 percent, and 0.33 percent, respectively, for the consumption groups of Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175.

Nineteen (37.26%) of the fifty-one items had price increases over the week, fourteen (27.45%) had price decreases, and eighteen (35.29%) had unchanged prices.

A weekly average price drop was seen for the following items: bread (3.02%), garlic (2.00%), petrol (1.74%), pulse masoor (1.43%), diesel (1.42%), rice basmati broken (1.32%), chili powder (1.31%), eggs (0.94%), wheat flour (0.77%), and mustard oil (0.46%).

The commodities that experienced a weekly increase in average prices were onions (33.21%), tomatoes (15.34%), bananas (4.93%), potatoes (2.62%), georgette (1.57%), gur (1.45%), onions (33.21%), lawn (0.66%), cigarettes (0.41%), and energy saver (0.38%).

Chicken (29.00%), wheat flour (28.35%), bananas (25.69%), cooking oil (5 liters; 17.05%), vegetable ghee 2.5 kg (15.12%), vegetable ghee 1 kg (14.19%), mustard oil (9.73%), eggs (8.73%), and lpg (5.47%) were among the items that lost value year over year.

The following commodities saw an increase in average price year over year: gas for Q1 (570.00%), onions (100.37%), garlic (43.40%), chili powder (57.89%), tomatoes (36.23%), salt powder (31.30%), shirting (30.52%), men’s sandals (25.01%), pulse mash (25.00%), beef (21.86%), energy saver (20.53%), and sugar (19.85%).

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In interbank trade, the Pakistani rupee beats the US dollar.

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5 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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6 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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Business

The inflation rate in Pakistan dropped to its lowest level.

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6 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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