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Aftab Maken
ISLAMABAD: Short-term inflation in Pakistan accelerated sharply this week, with the Sensitive Price Indicator (SPI) rising by 1.16% for the week ended February 19, 2026, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
The SPI, which tracks prices of 51 essential commodities across 50 markets in 17 cities, serves as a key gauge of weekly price movements and short-term inflationary pressures affecting households nationwide.
The weekly jump was driven primarily by steep increases in several staple and energy-related items. Bananas led the surge with a 16.05% price hike, followed by electricity charges for the first quarter at 15.41%. Garlic rose 5.86%, chicken 5.49%, onions 3.83%, and tomatoes 3.82%. Fuel costs also climbed, with diesel up 2.69%, petrol 1.93%, and LPG 0.75%. Meat prices edged higher, including beef at 1.03% and mutton at 0.69%, while long cloth increased modestly by 0.28%.
Of the 51 items monitored, prices rose for 17 (33.33%), fell for 12 (23.53%), and remained stable for 22 (43.14%). Offsetting some of the upward pressure, notable declines were recorded in eggs (down 11.78%), potatoes (2.24%), wheat flour (2.02%), and pulse masoor (1.47%). Sugar eased 0.96%, vegetable ghee (2.5kg pack) 0.72%, and pulse gram 0.58%. Smaller drops were seen in cooking oil (5-litre), gur, vegetable ghee (1kg), rice IRRI-6/9, and mustard oil.
On a year-on-year basis, the SPI showed a more moderate increase of 5.19%. Significant annual rises included tomatoes (85.20%), wheat flour (31.33%), gas charges for Q1 (29.85%), electricity charges for Q1 (17.33%), bananas (15.83%), and chilies powder (15.20%). Other notable yearly gains were in beef (13.28%), LPG (12.22%), firewood (11.40%), powdered milk (9.89%), shirting (9.11%), mutton (8.77%), and gur (8.63%).However, several items registered annual declines, such as potatoes (45.43% lower), garlic (27.51%), pulse gram (23.30%), chicken (19.36%), onions (18.10%), tea Lipton (13.95%), salt powder (12.52%), pulse masoor (12.33%), eggs (8.54%), pulse mash (5.08%), mustard oil (2.13%), sugar (1.43%), and pulse moong (1.40%).
This week’s SPI rebound follows a period of relative stability or declines in recent weeks. For context, the SPI had decreased 0.59% in the week ended February 12, amid easing food prices, though year-on-year inflation stood at around 4.26% then. Overall headline inflation remained contained at 5.8% in January 2026, within the State Bank of Pakistan’s 5-7% target range, supported by macroeconomic reforms and a strengthening current account position.
Analysts note that the latest weekly spike, particularly in perishable foods like bananas, tomatoes, and onions, along with energy adjustments, could signal building pressures ahead of seasonal demands. The rupee has held relatively steady around 280 against the US dollar in recent sessions.
The PBS data underscores ongoing volatility in essential commodity prices, which continue to impact household budgets despite broader economic stabilization efforts. Authorities will likely monitor these trends closely as they balance inflation control with growth objectives under international programs.
