Weekly Inflation Sees a 0.34% Increase in Pakistan

Pakistan witnessed a continual surge in weekly inflation, marking the fourth consecutive week of escalation. The Sensitive Price Indicator (SPI) for the Combined Group showed a 0.34% Week-over-Week (WoW) increase for the week ending January 18, 2024.

In a year-over-year (YoY) comparison, the SPI soared by 44.64%, underscoring the persistent inflationary trend compared to the same period last year.

Notably, the previous week experienced a sharper spike, with the SPI for the Combined Group rising by 1.36% WoW.

Data released by the Pakistan Bureau of Statistics (PBS) revealed that the Combined Index reached 319, compared to 317.92 on January 11, 2024. In contrast, the index stood at 220.54 a year ago on January 19, 2023.

Among the 51 items surveyed, the average prices of 22 items increased, 08 items decreased, and 21 items remained stable.

Key Price Changes:

During the week, significant increases were noted in the prices of Onions (8.69%), Tomatoes (7.51%), Energy Sever (2.72%), Chicken (2.26%), and Garlic (2.18%). Conversely, notable decreases were observed in the prices of Potatoes (3.85%), Petrol (2.99%), Sugar (0.9%), Tea Lipton (0.2%), and Vegetable Ghee 2.5 KG (0.14%).

The weekly SPI percentage change across income groups revealed increases ranging from 0.23% to 0.61%. The Lowest Income Group experienced a 0.61% rise, while the highest income group recorded a 0.23% increase.

Analyzing the YoY SPI change across income segments, increases were noted across all quantiles, ranging between 37.23% and 48.43%. The Lowest Income Group saw a 37.23% increase, while the highest income group recorded a 42.83% rise.

Specific Commodity Prices:

The average price of Sona urea was Rs4,613 per 50 kg bag, marking a 0.19% decrease from the previous week but a significant 66.03% increase from last year.

Simultaneously, the average Cement price was Rs1,216 per 50 kg bag, reflecting a 0.43% decrease from the previous week and a notable 16.63% increase from last year.