September 06, 2024 (MLN): Pakistan's short-term inflation decreased by 0.15% WoW during the week ended September 05, 2024, while it rose 14.07% compared to last year, the Pakistan Bureau of Statistics (PBS) reported on Friday.
This was the fourth consecutive weekly decline.
PBS calculates short-term inflation using the sensitive price indicator (SPI) on a weekly basis to assess the price movement of essential commodities at shorter interval of time so as to review the price situation in the country.
SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country. During the week, out of these items, prices of 19 (37.25%) items increased, 13 (25.50%) items decreased and 19 (37.25%) items remained stable.
During the week, major decrease was observed in the prices of Tomatoes (14.54%), Chicken (1.55%), Wheat Flour (1.31%), Chilies Powder (1.30%), and Diesel (1.23%).
On the other hand, major increase was observed in the prices of Onions (3.83%), Pulse Gram (1.65%), Garlic (1.38%), LPG (0.90%), and Cooked Daal & Cooked Beef (0.70%) each.
The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging -0.14% and -0.17%.
The lowest income group experienced a weekly fall of 0.14%, while the highest income group experienced a fall of 0.15%.
On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 8.79% and 16.8%.
Yearly SPI for the Lowest Income Group increased by 8.79% while the highest income group recorded an increase of 13.11%.
