Weekly inflation falls 0.22%

October 25, 2024 (MLN): Pakistan's short-term inflation decreased by 0.22% WoW during the week ended October 24, 2024, while the annual increase was 15.15%, the Pakistan Bureau of Statistics (PBS) reported on Friday.

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 13 (25.49%) items increased, 10 (19.61%) items decreased and 28 (54.90%) items remained stable.

On a weekly basis, a major decrease was observed in the prices of Chicken (7.12%), Onions (5.07%), Gur (2.07%), Wheat Flour (1.16%), and Pulse Mash (1.14%).

On the other hand, a major increase was observed in the prices of Potatoes (3.33%), Garlic (2.97%), Pulse Moong (2.84%), Eggs (2.02%), and Bananas (0.75%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging -0.18% and -0.24%.

The lowest income group experienced a weekly fall of 0.18%, while the highest income group experienced a fall of 0.21%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 10.36% and 18.11%.

Yearly SPI for the Lowest Income Group increased by 10.36% while the highest income group recorded an increase of 13.9%.

The average price of Sona urea stood at Rs4,573 per 50 kg bag which is 0.10% higher than last week’s price, and 20.83% higher when compared to last year.

Meanwhile, the average Cement price rose to Rs1,449 per 50 kg bag, which is 0.40% lower than the previous week while 21.17% higher than prices last year.

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