Weekly SPI falls by 0.58%

September 09, 2022 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.58% during the week ended Sep 08, 2022 while the SPI increased by 42.7% compared to the corresponding period from last year, weekly data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

As per the PBS inflation report, the weekly decline was mainly on account of a decrease in the prices of food items.

The Weekly SPI Combined Index was at 221.55 compared to 222.85 on Sep 01, 2022 while the index was recorded at 155.26 a year ago, on Sep 09, 2021.

Out of the 51 monitored items, the average price of 26 items increased that include LPG (10.66%), wheat flour (4.15%), eggs (3.96%), bread (3.27%), pulse moong (2.74%), curd (2.72%), tea Lipton (2.50%), pulse gram (1.65%), chicken (1.58%), milk fresh (1.57%), firewood (1.54%) and potatoes (1.02%). While 9 items witnessed a decrease in prices including onions (41.99%), tomatoes (8.11%), bananas (2.51%), pulse masoor (1.37%), vegetable ghee 1kg (0.55%), cooking oil 5 litre (0.33%), mustard oil (0.16%) and vegetable ghee 2.5kg & sugar (0.11%) each.

During the week, 16 items registered no change in prices.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 1.52% and 0.25%.

The Lowest Income Group witnessed a weekly decrease of 1.52% while the highest income group recorded a decrease of 0.25%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 34.47% and 44.01%.

Yearly SPI for the lowest income group increased by 34.47% while the highest income group recorded an increase of 44.01%.

The average price of Sona urea stood at Rs.2432 per 50 kg bag which is 0.16% lower than last week’s price and 35.11% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs.1040 per 50 kg bag, which is 0.48% higher than the previous week and 53.85% higher than prices last year.

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