Another hole in the pocket: Weekly inflation soars by 1.05%

May 05, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.05% during the week ended May 04, 2023, while the SPI increased by 48.35% compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 254.84 compared to 252.2 on April 27, 2023, while the index was recorded at 172.63 a year ago, on May 12, 2022

Out of the 51 monitored items, the average price of 30 items increased, 9 items decreased whereas 12 items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.94% and 1.09%.

The Lowest Income Group witnessed a weekly increase of 0.94% while the highest income group recorded an increase of 1.02%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 43.13% and 49.14%.

Yearly SPI for the Lowest Income Group increased by 43.13% while the highest income group recorded an increase of 49.14%.

The average price of Sona urea stood at Rs.3051 per 50 kg bag which is 0.26% higher than last week’s price and 41.78% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs.1120 per 50 kg bag, which is 0% lower than the previous week and 28.74% higher than prices last year.

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