Weekly inflation drops by 0.11%

December 23, 2022 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.11% during the week ended December 22, 2022, while the SPI increased by 28.76% compared to the corresponding period from last year, as per the latest data released by the Pakistan Bureau of Statistics (PBS).

The WoW drop in SPI is mainly attributed to the decline in the prices of perishable prices primarily tomatoes down by 23.85% WoW. Furthermore, the Rs10 per litre decrease in petroleum prices has also eased SPI during the outgoing week. 

Accordingly, the combined index stood at 217.39 compared to 217.64 on December 15, 2022, while the index was recorded at 168.83 a year ago, on December 23, 2021

Out of the 51 monitored items, the average price of 20 items increased, 14 items decreased whereas 17 items registered no change during the week.

The weekly SPI percentage change by income groups showed a mixed trend with SPI ranging between -0.21% and 0.02%.

The lowest income group witnessed a weekly decrease of 0.04% while the highest income group recorded a decrease of 0.21%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 26.86% and 30.61%.

Yearly SPI for the lowest income group increased by 26.86% while the highest income group recorded an increase of 29.25%.

The average price of Sona urea stood at Rs.2581 per 50 kg bag which is 1.98% higher than last week’s price and 35.2% higher when compared to last year.

Meanwhile, the average cement price was recorded at Rs.1043 per 50 kg bag, which is 0% lower than the previous week and 40.95% higher than prices last year.

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