Weekly inflation falls 1.1%

April 26, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 1.1% WoW during the week ended April 25, 2024, while the SPI rose 26.94% YoY compared to the corresponding period from last year.

Last week, SPI had declined by 0.79%.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 320.14 compared to 323.71 a week earlier, while the index was recorded at 252.20 a year ago.

During the week, out of 51 items, prices of 15 (29.41%) items increased, 10 (19.61%) items decreased and 26 (50.98%) items remained stable.

During the week, a major decrease was observed in the prices of Tomatoes (20.83%), Onions (14.43%), Chicken (11.64%), Wheat Flour (4.92%), and Eggs (4.45%).

On the other hand, a major increase was observed in the prices of Potatoes (1.80%), Powder Milk (1.30%), Vegetable Ghee 2.5 Kg (0.70%), Pulse Mash (0.65%), and Sugar (0.60%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging -1.02% and -1.3%.

The lowest income group experienced a weekly fall of 1.3%, while the highest income group experienced a fall of 1.02%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 19.96% and 30.74%.

Yearly SPI for the Lowest Income Group increased by 19.96% while the highest income group recorded an increase of 24.53%.

The average price of Sona urea stood at Rs4,948 per 50 kg bag which is 0.25% higher than last week’s price, while 62.58% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,217 per 50 kg bag, which is 0.01% lower than the previous week and 8.69% higher than prices last year.

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