Weekly inflation inches down by 0.06%

December 15, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group eased by 0.06% WoW during the week ended December 14, 2023, while the SPI rose by 43.16% YoY compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 311.58 compared to 311.78 on December 07, 2023, while the index was recorded at 217.64 a year ago, on December 15, 2022.

Out of 51 items, the average price of 19 items increased, 10 items decreased, and 22 items remained stable.

During the week, the major decrease was observed in the prices Potatoes (12.18%), Tomatoes (5.18%), Tea Lipton (2.57%), Chicken (1.19%), and Rice Basmati Broken (0.52%).

On the other hand, the major increase was observed in the prices of Sugar (6.02%), Pulse Gram (2.57%), Eggs (2.33%), Rice IRRI-6/9 (1.54%), and Pulse Moong (1.23%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between -0.19% and -0.04%.

The Lowest Income Group witnessed a weekly decline of -0.19% while the highest income group recorded a decrease of -0.04%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 35.59% and 46.99%.

Yearly SPI for the Lowest Income Group increased by 35.59% while the highest income group recorded an increase of 41.47%.

The average price of Sona urea surged Rs4,438 per 50 kg bag which is 4% higher than last week’s price and 75.34% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,242 per 50 kg bag, which is 0.20% lower than the previous week and 19.07% higher than prices last year.

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