Weekly SPI increases by 0.25% WoW

Pakistan’s short-term inflation Sensitive Price Indicator (SPI) increased by 0.25% compared to the previous week, while it rose by 3.87% 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 13 items (25.49%) increased, 13 items (25.49%) decreased, while 25 items (49.02%) remained unchanged, according to PBS data.

The major increase during the week was observed in the prices of tomatoes, which rose by 27.64%, followed by LPG up 7.03%, wheat flour increasing 3.26%, eggs for higher by 2.19%.

Bananas rising 1.68%, chilies powder up 1.02%, firewood increasing 0.80%, pulse moong rising 0.70% and georgette edging up by 0.69%.

On the other hand, the major decrease was recorded in the prices of potatoes, which declined by 6.72%, onion down 3.82%, chicken falling 1.66%.

Salt powder easing 0.67%, pulse gram falling 0.58%, rice basmati broken down 0.44%, vegetable ghee 1kg declining 0.31% and pulse masoor lower by 0.29%.

The year-on-year trend for the current week depicts an increase of 3.87% in the Sensitive Price Indicator (SPI).

The major annual increase was observed in the prices of Wheat Flour, which surged by 34.90%, followed by Gas Charges for Q1 up 29.85%, Eggs increasing 20.85%, Beef rising 12.83%, Chilies Powder higher by 12.56%.

Sugar up by 10.43%, Firewood rising 10.35%, Gur up 9.97%, Powder Milk higher by 9.90%, Bananas increasing 8.92% and Lawn Printed rising 8.29%.

On the contrary, a significant year-on-year decrease was recorded in the prices of Potatoes, which plunged by 46.60%, followed by Onions down 37.30%, Garlic declining 35.91%, Tomatoes lower by 32.88%.

Pulse Gram falling 31.03%, Tea Lipton decreasing 17.79%, Pulse Mash down 13.69%, Pulse Masoor falling 9.55%, Diesel declining 1.27% and Petrol easing 0.95%.

The average price of Sona urea stood at Rs4,375 per 50 kg bag, up by 0.66% from last week’s price, and a 3.43% decrease from last year.

Meanwhile, the average Cement price rose to Rs1,400 per 50 kg bag, which is 0.31% lower than the previous week, and 0.64% 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.