Weekly inflation drops by 0.14%

January 26, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group fell by 0.14% WoW during the week ended January 25, 2024, while the SPI by 43.79% YoY compared to the corresponding period from last year.

This was the first weekly decline after four consecutive weeks of upward pressure on prices.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 318.55 compared to 319 on January 18, 2024, while the index was recorded at 221.54 a year ago, on January 26, 2023.

Out of 51 items, the average price of 15 items increased, 13 items decreased, and 23 items remained stable.

During the week, a major decrease was observed in the prices of Tomatoes (14.14%), Potatoes (5.06%), Onions (1.64%), Tea Lipton (1.19%), and Bananas (0.81%).

On the other hand, a major increase was observed in the prices of Chicken (3.31%), Cooked Daal (1.32%), Gur (0.98%), Tea Prepared (0.92%), and Pulse Moong (0.80%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.33% and 0.08%.

The Lowest Income Group witnessed a weekly decline of 0.33% while the highest income group recorded a decrease of 0.08%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 36.23% and 47.49%.

Yearly SPI for the Lowest Income Group increased by 36.23% while the highest income group recorded an increase of 41.95%.

The average price of Sona urea fell to Rs4,553 per 50 kg bag which is 1.28% lower than last week’s price while 64.76% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,212 per 50 kg bag, which is 0.27% lower than the previous week and 16.31% higher than prices last year.

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