Weekly inflation falls another 1.06%

May 17, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by -1.06% WoW during the week ended May 16, 2024, while the SPI rose 21.22% YoY compared to the corresponding period from last year.

This was the fifth consecutive weekly decline.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 309.25 compared to 312.56 a week earlier, while the index was recorded at 255.12 a year ago.

During the week, out of 51 items, prices of 20 (39.22%) items increased, 16 (31.37%) items decreased and 15 (29.41%) items remained stable.

A major decrease was observed in the prices of Tomatoes (31.18%), Onions (21.84%), Garlic (7.76%), Wheat (5.48%), and Petrol (5.32%).

On the other hand, a major increase was observed in the prices of Cooked Daal (1.96%), Shirting (1.74%), Potatoes (1.46%), Beef (1.11%), and Mutton (1.04%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between -1.02% and -1.17%.

The lowest income group experienced a weekly fall of 1.17%, while the highest income group experienced a fall of 1.06%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 14.54% and 24.58%.

Yearly SPI for the Lowest Income Group increased by 14.54% while the highest income group recorded an increase of 19.07%.

The average price of Sona urea stood at Rs4,839 per 50 kg bag which is 0.06% higher than last week’s price, while 56.44% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,210 per 50 kg bag, which is 0.55% higher than the previous week and 8.62% higher than prices last year.

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