Weekly inflation continues to rise, up by 1.36% WoW

January 12, 2024 (MLN): Pakistan's weekly inflation rose for the third consecutive week, with the Sensitive Price Indicator (SPI) for the Combined Group increasing by 1.36% WoW during the week ended January 11, 2024.

Moreover, the SPI increased by 44.16% YoY when compared to the corresponding period from last year.

Last week, SPI for Combined Group rose by 0.81% WoW.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 317.92 compared to 313.66 on January 04, 2024, while the index was recorded at 220.53 a year ago, on January 12, 2023.

Out of 51 items, the average price of 21 items increased, 08 items decreased, and 22 items remained stable.

During the week, the major was observed in the prices of Tomatoes (15.63%), Onions (8.94%), Chicken (6.42%), Electricity Charges for Q1 (5.11%), and Eggs (4.31%).

On the other hand, the major decrease was observed in the prices of Potatoes (5.92%), Vegetable Ghee 1 KG (0.84%), Sugar (0.43%), Vegetable Ghee 2.5 KG (0.29%), and Mustard Oil (0.26%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 1.2% and 1.34%.

The Lowest Income Group witnessed a weekly rise of 1.2% while the highest income group recorded a rise of 1.34%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 36.06% and 47.48%.

Yearly SPI for the Lowest Income Group increased by 36.06% while the highest income group recorded an increase of 42.71%.

The average price of Sona urea was recorded at Rs4,622 per 50 kg bag which is 0.07% higher than last week’s price and 66.35% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,221 per 50 kg bag, which is 0.39% lower than the previous week and 17.17% higher than prices last year.

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