Weekly SPI rises 0.29%

October 7, 2022 (MLN): Sensitive Price Indicator (SPI) for the week ended on Oct 6 rose by 0.29% compared to the preceding week primarily due to an increase in food prices, latest data released by the Pakistan Bureau of Statistics showed on Friday.

While year-on-year, the SPI surged by 29.44% compared to the corresponding period last year, the SPI-based inflation mainly varies due to the change in prices of food items.

According to data released by PBS the Combined Index was at 205.73 compared to 205.13 on 29th Sep 2022, while the index was recorded at 158.94 a year ago, on 7th Oct 2021.

Out of the 51 monitored items, prices of 17 items witnessed an increase including Tomatoes (27.40%), Onions (10.22%), Bananas (2.24%) and Powdered Milk (1.18%).

On the other hand prices of fourteen items (27.45%) observed a decline in prices including Petrol (5.29%), Pulse Masoor (5.16%), Potatoes & Diesel (4.87%) each, LPG (4.49%), Pulse Gram (3.06%), Pulse Mash (1.67%), Pulse Moong (0.98%), Garlic (0.73%), Chicken (0.52%), Mustard Oil (0.45%), Wheat Flour (0.36%), Cooking Oil 5 litre (0.22%) and Vegetable Ghee 2.5Kg (0.08%). While 20 (39.22%) items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI was increase in 4 groups except 1, ranging between -0.08% and 1.22%.

The lowest income group witnessed a weekly increase of 1.22% while the highest income group recorded a decrease of -0.08%.

Every year, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 24.03% and 35.21%.

Yearly SPI for the lowest income group increased by 24.58% while the highest income group recorded an increase of 35.21%.

The average price of Sona urea stood at Rs2,422 per 50 kg bag which is 0.40% lower than last week’s price and 32.94% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,028 per 50 kg bag, which is 0.08% lower than the previous week and 46.66% higher than prices last year.

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