Weekly inflation decreases by 0.51%

December 22, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.51% WoW during the week ended December 21, 2023, while the SPI rose by 42.6% 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 310 compared to 311.58 on December 14, 2023, while the index was recorded at 217.39 a year ago, on December 22, 2022.

Out of 51 items, the average price of 18 items increased, 9 items decreased, and 24 items remained stable.

During the week, a major decrease was observed in the prices of Potatoes (13.17%), Petrol Super (4.97%), Diesel (4.68%), Tomatoes (3.45%) and Sugar (1.16%).

On the other hand, a major increase was observed in the prices of Eggs (10.42%), Firewood Whole (1.23%), Onions (1.19%), Pulse Moong (0.88%) and Pulse Gram (0.79%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between -0.39% and -0.59%.

The Lowest Income Group witnessed a weekly decline of -0.39% while the highest income group recorded a decrease of -0.59%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 35.13% and 40.93%.

Yearly SPI for the Lowest Income Group increased by 35.13% while the highest income group recorded an increase of 40.93%.

The average price of Sona urea surged to Rs4,493 per 50 kg bag which is 1.23% higher than last week’s price and 74.09% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,235 per 50 kg bag, which is 0.52% lower than the previous week and 18.5% higher than prices last year.

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