Rising flour prices fuel weekly inflation

ISLAMABAD: Short-term inflation rose to 11.85 per cent year-on-year in the week ending October 22, driven largely by wheat flour prices, according to official data released by the Pakistan Bureau of Statistics (PBS) on Friday. The index, which comprises 51 items whose prices are collected from 50 markets in 17 cities, is calculated weekly to track changes in the prices of essential commodities and services. Short-term inflation has remained in double digits for several consecutive weeks, largely on the back of persistent increases in petroleum prices. The data showed that of the 51 essential…