Weekly inflation edges lower by 0.16%

May 19, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.16% during the week ended May 18, 2023, whereas the SPI increased by 45.72% compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 255.12 compared to 255.53 on May 11, 2023, while the index was recorded at 175.08 a year ago, on May 19, 2022

Out of the 51 monitored items, the average price of 23 items increased, 13 items decreased whereas 15 items registered no change during the week.

The weekly SPI percentage change by income groups showed a mixed trend with SPI ranging between -0.29% and 0.05%.

The Lowest Income Group witnessed a weekly increase of 0.05% while the highest income group recorded a decrease of 0.29%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 41.67% and 47.09%.

Yearly SPI for the Lowest Income Group increased by 41.67% while the highest income group recorded an increase of 47.09%.

The average price of Sona urea stood at Rs.3093 per 50 kg bag which is 0.65% higher than last week’s price and 43.39% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs.1114 per 50 kg bag, which is 0.45% lower than the previous week and 27.9% higher than prices last year.

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