Weekly Inflation Sees 0.81% Uptick, SPI Data Reveals
Out of 51 items, the average prices of 19 items rose, 09 items decreased, and 23 items remained stable.
Karobar
The Weekly Sensitive Price Indicator (SPI) for the Combined Group witnessed a 0.81% increase in the week ending January 04, 2024. Comparatively, the SPI surged by 42.86% Year over Year (YoY) compared to the same period last year.
According to data released by the Pakistan Bureau of Statistics (PBS), the Combined Index reached 313.66, up from 311.14 on December 28, 2023, and significantly higher than the 219.56 recorded a year ago on January 05, 2023.
Significant price hikes during the week were noted in Tomatoes (16.04%), Chicken (13.98%), Eggs (3.20%), Onions (3.04%), and Bananas (2.13%).
Conversely, notable decreases were observed in the prices of Potatoes (8.68%), Tea Lipton (1.29%), Garlic (0.68%), and Cooking Oil 5 Litre & Vegetable Ghee 2.5 KG (0.54%) each.
The weekly SPI percentage change by income groups demonstrated an increase across all quantiles, ranging between 0.79% and 0.84%. The Lowest Income Group experienced a 0.81% weekly rise, while the highest income group saw a rise of 0.8%.
Analyzing the yearly SPI change across different income segments revealed increases ranging between 35.33% and 46.38%. Yearly SPI for the Lowest Income Group rose by 35.33%, while the highest income group recorded an increase of 41.35%.
The average price of Sona urea stood at Rs4,618 per 50 kg bag, marking a 0.02% increase from the previous week and a significant 72.45% rise compared to the prices last year.
Meanwhile, the average Cement price was Rs1,226 per 50 kg bag, reflecting a 0.47% decrease from the previous week and a 17.43% increase compared to prices last year.
