Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

SPI decreases 0.79% WoW

SPI decreases 0.79% WoW
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April 19, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.79% WoW during the week ended April 18, 2024, while the SPI rose 28.54% YoY compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 323.71 compared to 326.29 a week earlier, while the index was recorded at 251.83 a year ago.

During the week, out of 51 items, prices of 22 (43.14%) items increased, 11 (21.57%) items decreased and 18 (35.29%) items remained stable.

During the week, major decrease was observed in the prices of Wheat (10.25%), Wheat Flour (8.97%), Bananas (8.67%), Electricity Charges for Q1 (7.16%), and Eggs (6.67%).

On the other hand, major increase was observed in the prices of Potatoes (17.07%), Tomatoes (12.67%), Chicken (11.60%), Lawn printed, and Shirting (3.55%) each.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging 0.7% and 0.9%.

The lowest income group experienced a weekly fall of 0.71%, while the highest income group experienced a fall of 0.7%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 21.72% and 32.49%.

Yearly SPI for the Lowest Income Group increased by 21.72% while the highest income group recorded an increase of 25.98%.

The average price of Sona urea stood at Rs4,936 per 50 kg bag which is 2.39% higher than last week’s price, while 63.64% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,217 per 50 kg bag, which is 0.24% lower than the previous week and 8.55% higher than prices last year.

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Posted on: 2024-04-19T12:23:01+05:00