ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), rose 1.35 per cent year-on-year in the week ending May 22 owing to a rise in the prices of sugar and meat in the retail market.

After witnessing declines for 10 straight weeks, the SPI reversed the trend with an extraordinary spike in the retail prices of sugar, meat and chicken during the week under review on an annual basis.

It, however, declined by 0.29pc from the previous week, official data showed on Friday. The week-on-week decline was recorded after three consecutive rises, mainly due to a drop in the prices of perishable products.

The retail price of sugar in the market reached Rs190 to Rs200 per........

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