SPI swells by 4.1% WoW

October 28, 2022 (MLN): The Sensitive Price Index (SPI) for the current week ended on October 27, 2022, recorded an increase of 4.13% mainly due to the surge in electricity prices as the negative adjustment was made in September in terms of Fuel Cost Adjustment (FCA) Rs10 per unit.

According to data released by the Pakistan Bureau of Statistics (PBS), the Combined Index was at 30.68 compared to 205.27 on Oct 20, 2022, while the index was recorded at 30.68% a year ago, on Oct 27, 2021.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 26.70% and 31.77%.

The SPI for the lowest consumption group up to Rs 17,732 witnessed a 4.64% increase to 220.56 points from last week's 210.78 points.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 22% and 32.58%.

Within the food prices, a major increase is observed in the prices of food items, Salt Powder (2.57%), Tea Lipton (1.89%), Rice IRRI-6/9 (1.24), and Garlic (1.04%), non-food items, Electricity Q1 (89.34%), Energy Saver (1.57%) and Firewood (1.31%).

On the other hand, a major decline was witnessed in the prices of Tomatoes (3.77%), Onions (2.97%), Pulse Masoor (2.50%), Chicken (1.86%), Pulse Gram (1.35%), Gur (1.09%), Pulse Mash (0.84%), LPG (0.72%) and Potatoes (0.47%).

Out of 51 items, the prices of 21 (41.18%) items increased, 16 (31.37%) items dropped and 14 (27.45%) items remained flat during the week. 

The average price of Sona urea stood at Rs1898 per 50 kg bag which is 0.30% higher than last week’s price and 28.94% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs722 per 50 kg bag, which is 0.53% lower than the previous week and 42.97% higher than prices last year.

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