ISLAMABAD: 1.28 percent rise in the weekly inflation rate during the first week of the new fiscal year 2024-25 was witnessed following the budget announcement.

According to the Pakistan Bureau of Statistics (PBS) weekly report, the overall annual inflation rate has now reached 23.59 percent.

The PBS report indicated that the prices of 29 essential items increased over the past week, while five items remained stable, and 17 items saw a decrease in prices. Notably, tomato prices surged by 70.77 percent in the last week, with the average price per kilogram exceeding Rs 200.

The report highlighted price increases for several key items: flour rose by 10.57 percent, powdered milk by 8.90 percent, diesel by 3.58 percent, petrol by 2.88 percent, and LPG by 1.63 percent.

Additionally, the prices of chicken, pulses, and garlic also increased, while onion and potato prices decreased by 9.05 percent and 1.04pc, respectively.

Earlier reports from July 1 indicated that the Consumer Price Index (CPI) based inflation increased to 12.6 percent on a year-on-year basis in June 2024, compared to the same month last year.

According to PBS data, CPI-based inflation in June of the previous year was recorded at 29.4 percent.

On a month-on-month basis, inflation rose by 0.5 percent in June 2024, in contrast to a 3.2 percent decrease in the previous month and a 0.3 percent decrease in June 2023.