SPI increases by 0.4% WoW

SPI increases by 0.4% WoW

December 24, 2021 (MLN): The Sensitive Price Indicator (SPI) for the combined group witnessed an increase of 0.4% WoW for the week ended December 23, 2021, weekly data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

As per the PBS inflation report, this increase was mainly on account of an upsurge in the price of essential food items and LPG.

The combined index clocked in at 168.83 compared to 168.16 on December 16, 2021.

Similarly, the year-on-year trend also observed a surge of 19.83% when the index was recorded at 140.89 a year ago, on December 24, 2020.

Out of the 51 monitored items, the average price of 23 items registered an increase in the week that include tomatoes (7.28%), eggs (2.95%), pulse masoor (1.72%), sugar (1.46%), pulse mash (1.32%), Gents Sponge Chappal (20.08%), Ladies Sandal (16.69%), Gents Sandal (8.34%), LPG (5.03%) and Georgette (1%).

On the other hand, the average price of 5 items decreased weekly including Potatoes (5.26%), Chilies Powdered (4.16%), Onions (2.80%), Gur (0.76%) and Wheat Flour (0.12%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.28% and 0.46%.

The lowest income group saw a weekly rise of 0.28% while the highest income group recorded a jump of 0.46%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 17.82% and 21.92%.

Yearly SPI for the lowest income group increased by 21.92% while the highest income group recorded an increase of 19.83%.

The average price of sona urea stood at Rs1,909 per 50 kg bag which is 0.76% higher than last week’s price and 11.35% higher when compared to last year.

Going by the PBS report, the average cement price was recorded at Rs740 per 50 kg bag, depicting a decline of 0.08% WoW, while increasing by 27.39% YoY.

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