Weekly inflation decreases by 1.13%

March 22, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 1.13% WoW during the week ended March 21, 2024, while the SPI rose 29.06% 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 323.50 compared to 327.21 a week earlier, while the index was recorded at 250.66 a year ago.

During the week, out of 51 items, prices of 09 (17.65%) items increased, 17 (33.33%) items decreased and 25 (49.02%) items remained stable.

A major decrease was observed in the prices of Tomatoes (36.73%), Onions (19.58%), Potatoes (4.02%), Garlic (2.87%), and Pulse Mash (1.25%).

On the other hand, an increase was observed in the prices of LPG (1.49%), Shirting (0.74%), Beef (0.53%), Rice Basmati Broken (0.48%) and Mutton (0.42%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.91% and 1.83%.

The Lowest Income Group witnessed a weekly fall of 1.83% while the highest income group recorded a fall of 0.91%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 21.96% and 33.23%.

Yearly SPI for the Lowest Income Group increased by 21.96% while the highest income group recorded an increase of 26.2%.

The average price of Sona urea stood at Rs4,829 per 50 kg bag which is 1.33% lower than last week’s price and 67.88% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,221 per 50 kg bag, which is 0.48% lower than the previous week and 8.54% higher than prices last year.

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