Weekly inflation drops by 0.26%

May 27, 2022 (MLN): The weekly Sensitive Price Indicator (SPI) for the combined consumption group recorded a dip of 0.26% for the week ended on May 26, 2022, mainly due to the decline observed in the prices of essential food items, Pakistan Bureau of Statistics (PBS) reported Friday.

The combined index clocked in at 174.62 compared to 175.08 on May 19, 2022, while on yearly basis, the SPI observed a surge of 16.97% when the index was recorded at 149.29 a year ago, on May 27, 2021.

Out of the 51 monitored items, the commodities that witnessed a decline in their prices on a WoW basis include, Wheat Flour (12.25%), Chillies Powdered (6.48%), Chicken (4.41%), Garlic (2.99%), non-food item LPG (0.43%) with the joint impact of (-1.00%) into the overall SPI for the combined group of (-0.26%).

Meanwhile, 27 items registered an increase in the week namely, Potatoes (8.43%) Tomatoes (6.33%), Eggs (6.29%), Rice Basmati Broken (4.71%), Mustard Oil (4.16%), Pulse Masoor (3.93%), Milk Fresh (3.47%), Onions (3.03%), Pulse Gram (2.58%), Curd (2.35%), Washing Soap (2.13%), Cooked Beef (1.55%), Beef (1.42%), Pulse Mash (1.33%), Cooked Daal (1.32%), Mutton (1.30%) and Rice Irri-6/9 (1.24%). While the price of 19 commodities remained stable.

The weekly SPI percentage change by income groups showed that SPI declined across all quantiles, ranging between 0.44% and 0.15%.

The lowest income group saw a weekly drop of 0.15% while the highest income group witnessed a decline of 0.38% in weekly inflation.

On a yearly basis, analysis of SPI across different income segments showed that weekly inflation increased across all quantiles ranging between 14.94% and 18.12%.

Yearly SPI for the lowest income group increased by 18.12% while the highest income group recorded an increase of 14.94%.

The average price of sona urea stood at Rs2,188 per 50 kg bag which is around 1.42% higher than last week’s price and 25.52% higher when compared to the same week last year.

Going by the PBS report, the average cement price stands at Rs874 per 50 kg bag, up by 0.40% on weekly basis, while increasing by 42.20% YoY.

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