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Mettis Global News
Mettis Global News
Mettis Global News

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SPI inches up by 0.04%

Weekly inflation rises by 0.96%
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February 23, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group inched up by 0.04% WoW during the week ended February 22, 2024, while the SPI by 30.68% 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 315.31 compared to 315.18 on February 15, 2024, while the index was recorded at 241.29 a year ago, on February 23, 2023.

Out of 51 items, the average price of 23 items increased, 08 items decreased, and 20 items remained stable.

During the week, a major increase was observed in the prices of Tomatoes (22.71%), Bananas (7.40%), Diesel (3.02%), Chicken (1.22%), and Petrol (1.00%).

On the other hand, a major decrease was observed in the prices of Onions (14.42%), Eggs (11.19%), LPG (1.82%), Cooking Oil 5 Litre (0.75%), and Wheat Flour (0.36%).

The weekly SPI percentage change by income groups showed that SPI decreased across all 3 quantiles, while it increased across 2 quantiles.

The Lowest Income Group witnessed a weekly decline of -0.08% while the highest income group recorded a rise of 0.09%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 25.53% and 35.39%.

Yearly SPI for the Lowest Income Group increased by 25.53% while the highest income group recorded an increase of 28.22%.

The average price of Sona urea surged to Rs4,928 per 50 kg bag which is 9.19% higher than last week’s price while 69.14% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,238 per 50 kg bag, which is 0.35% higher than the previous week and 11.59% higher than prices last year.

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Posted on: 2024-02-23T15:11:49+05:00