Weekly inflation decreases by 0.33%

October 27, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.33% WoW during the week ended October 26, 2023, while the SPI increased by 29.65% YoY compared to the corresponding period from last year.

To note, this is the second consecutive WoW decrease, as the SPI had recorded a drop of 1.7% last week.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 277.11 compared to 278.04 on October 19, 2023, while the index was recorded at 213.74 a year ago, on October 27, 2022.

Out of 51 items, the average price of 14 items increased, 17 items decreased, and 20 items remained stable.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.25% and 0.36%.

The Lowest Income Group witnessed a weekly decrease of 0.25% while the highest income group recorded a decrease of 0.33%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 28.66% and 30.09%.

Yearly SPI for the Lowest Income Group increased by 28.66% while the highest income group recorded an increase of 29.61%.

The average price of Sona urea stood at Rs3,785 per 50 kg bag which is 0.01% higher than last week’s price and 54.63% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,196 per 50 kg bag, which is 0.27% lower than the previous week and 15.79% higher than prices last year.

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