Pakistan set a new record this week (not the good kind), as the country paid its highest ever price for LNG since imports began in 2015.
KSE-100 fell again this week, as Covid-19 cases surged in the country. PKR depreciated marginally this week due to oil, commodities and machinery imports. Local gold prices also fell this week.
Annual change in Sensitive Price Index fell to 12.20% vs. 12.52% last week. Poorest of country (Q1) were disproportionately affected with change of 15.52%. On a weekly basis, prices rose for all quintiles by 0.03%.
Increase in prices of Petrol (+4.73%), Tomatoes (+6.64%) and Eggs (+3.52%) contributed to inflation this week. LPG prices are also up 9.58% since last week and over 50% since last year. Falling Chicken prices (-18.35%) yet again moderated weekly inflation numbers.
What Else We’re Reading (Local)
What Else We’re Reading (International)
- Less than 20% of the population are vaccinated in most Asian countries, making them particularly vulnerable to the threat posed by the Delta variant of Covid-19. (Wall Street Journal)
- Tunisia’s president suspended parliament this week, triggering fears of democratic backsliding in the Arab Spring’s only success story. (The Guardian)