Weekly inflation inches down by 0.4%

December 17, 2022 (MLN): The Sensitive Price Indicator (SPI) for the week ended on December 15, 2022, decreased by 0.40% mainly due to a notable 28.71% drop in Tomato prices while Potatoes, Eggs, Vegetable Ghee, and Pulses also contributed to this WoW decline in inflation, data issued by Pakistan Bureau of Statistics (PBS) revealed.

However, on yearly basis, the SPI observed a jump of 29.42% due to the surging prices of Onions, Chicken, and other major grocery items. In addition, the increase in energy prices has also fueled inflation. 

Out of the 51 monitored items, the average price of 22 items increased, 9 items decreased whereas 20 items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.77% and 0.29%.

The Lowest Income Group witnessed a weekly decrease of 0.77% while the highest income group recorded a decrease of 0.29%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 27.28% and 31.06%.

Yearly SPI for the Lowest Income Group increased by 27.28% while the highest income group recorded an increase of 30.12%.

The average price of Sona urea stood at Rs.2531 per 50 kg bag which is 0.51% lower than last week’s price and 33.63% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs.1043 per 50 kg bag, which is 0.48% higher than the previous week and 40.76% higher than prices last year.

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