SPI declines for second consecutive week

December 3, 2021 (MLN): The weekly Sensitive Price Indicator (SPI) for the combined group witnessed a drop for the second consecutive week as it recorded a decrease of 0.48% WoW during the week ended December 02, 2021, with vegetable and LPG prices showing signs of decline, weekly data released by the Pakistan Bureau of Statistics (PBS) showed.

The combined index clocked in at 167.36 compared to 168.16 on November 25, 2021,

However, the year-on-year trend depicts an increase of 18.35% when the index was recorded at 141.41 a year ago, on December 3, 2020.

Out of the 51 monitored items, the average price of 11 items decreased weekly including tomatoes that witnessed a drop of 16.57%, onions by 7.74%, chicken by 7.68%, LPG by 2.43%, sugar by 1.51% and wheat flour by 0.58%, whereas 19 items registered no change during the week.

Meanwhile, the average price of 21 items registered an increase in the week that include bananas, pulse masoor, pulse mash, cooking oil and washing soap.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.47% and 0.50%.

Both, the lowest and highest income group saw a weekly decline of 0.47%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 16.52% and 19.21%.

Yearly SPI for the lowest income group increased by 19.21% while the highest income group recorded an increase of 18.97%.

The average price of sona urea stood at Rs1913 per 50 kg bag which is 9.24% lower than last week’s price and 13.25% higher when compared to last year.

Going by the PBS report, the average cement price was recorded at Rs742 per 50 kg bag, depicting an increase of 0.13% WoW and 28.76% YoY.

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