Inflation Alert: Weekly SPI up by 2.82%, food and non-food prices soar

February 03, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the combined group in Pakistan increased by 2.82% during the week ending February 2, 2023 and by 34.49% compared to the same period from the previous year.

Food items such as garlic, pulse gram, bananas, chicken, and others showed major price increases.

On the non-food side, the prices of LPG, petrol, and diesel also rose.

According to the Pakistan Bureau of Statistics (PBS), the Combined Index was at 227.79, compared to 221.54 on January 26, 2023, and 169.37 a year ago on February 3, 2022.

Out of 51 monitored items, 32 increased in price, 1 decreased, and 18 remained unchanged.

The weekly SPI increased across all income groups by 1.71% to 3.30%.

On a yearly basis, the SPI increased for all income groups by 31.33% to 36.04%.

The average price of Sona urea was at Rs2,867 per 50 kg bag, 3.74% lower than the previous week and 43.80% higher than last year.

Meanwhile, the average cement price was Rs1060 per 50 kg bag, 1.68% higher than the previous week and 44.14% higher than last year.

Copyright Mettis Link News