Weekly SPI increases by 0.12% WoW

Pakistan’s short-term inflation Sensitive Price Indicator (SPI) increased by 0.12% compared to the previous week, while it rose by 3.20% compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).

During the week, out of 51 essential items, prices of 21 items (41.18%) increased, 8 items (15.68%) decreased, while 22 items (43.14%) remained unchanged, according to PBS data.

The major increase during the week was observed in the prices of wheat flour, which rose by 5.07%, followed by chicken up 2.86%, garlic increasing 2.44%, chilies powder for higher by 1.01%.

LPG rising 0.88%, tea prepared up 0.73%, shirting increasing 0.56%, sugar rising 0.58% and bread edging up by 0.22%.

On the other hand, the major decrease was recorded in the prices of potatoes, which declined by 3.73%, onion down 2.20%, pulse gram falling 1.51%,

Eggs easing 1.44%, pulse mash falling 0.65%, pulse masoor down 0.38%, bananas declining 0.21% and tomatoes lower by 0.05%.

The year-on-year trend for the current week depicts an increase of 2.83% in the Sensitive Price Indicator (SPI).

The major annual increase was observed in the prices of Wheat Flour, which surged by 31.12%, followed by Gas Charges for Q1 up 29.85%, Beef increasing 13.15%, Chilies Powder rising 13.01%, Sugar higher by 11.18%.

Bananas and Firewood up by 10.57% each, Gur rising 10.50%, Powder Milk up 9.51%, Shirting higher by 8.73%, Lawn Printed increasing 8.29% and Eggs rising 8.03%.

On the contrary, a significant year-on-year decrease was recorded in the prices of Tomatoes, which plunged by 57.04%, followed by Potatoes down 48.71%, Onion declining 41.33%, Garlic lower by 39.07%.

Pulse Gram falling 30.97%, Tea Lipton decreasing 17.79%, Pulse Mash down 14.34%, Pulse Masoor falling 8.92%, LPG declining 1.22% and Diesel easing 0.30%.

The average price of Sona urea stood at Rs4,346 per 50 kg bag, up by 0.54% from last week’s price, and a 4.19% decrease from last year.

Meanwhile, the average Cement price rose to Rs1,404 per 50 kg bag, which is 0.20% lower than the previous week, and 0.48% above last year.

PBS calculates short-term inflation using the SPI on a weekly basis to assess the price movement of essential commodities at shorter interval of time so as to review the price situation in the country.

SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.