Islamabad: Pakistan's weekly inflation has jumped by nearly 31 per cent as compared to last year, media reports said.

The inflation rate is measured by the Sensitive Price Index (SPI).

“The year-on-year (YoY) trend depicts an increase of 30.60pc,” the Pakistan Bureau of Statistics (PBS) was quoted as saying by Dawn News in its weekly report on the movement in prices of 51 essential items, collected from 50 markets in 17 major cities across the country.

PBS said the SPI had been increasing in double digits since Feb 2021, with minor variations throughout FY2021-22 and FY2022-23.

The SPI is computed on a weekly basis to assess the price movement of essential commodities at short intervals.

The prices are estimated to go further up in the coming week in view of the recent government decision to increase the prices of wheat flour, sugar and ghee by 25 to 62 per cent for sale through the Utility Stores Corporation (USC), to reduce the size of untargeted food subsidies.