Weekly inflation increases by 0.34%

January 19, 2024 (MLN): Pakistan's weekly inflation rose for the fourth consecutive week, with the Sensitive Price Indicator (SPI) for the Combined Group increasing by 0.34% WoW during the week ended January 18, 2024.

Moreover, the SPI increased by 44.64% YoY when compared to the corresponding period from last year.

Last week, SPI for the Combined Group rose by 1.36% WoW.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 319 compared to 317.92 on January 11, 2024, while the index was recorded at 220.54 a year ago, on January 19, 2023.

Out of 51 items, the average price of 22 items increased, 08 items decreased, and 21 items remained stable.

During the week, a major increase was observed in the prices of Onions(8.69%), Tomatoes (7.51%), Energy Sever (2.72%), Chicken (2.26%), and Garlic (2.18%).

On the other hand, a major decrease was observed in the prices of Potatoes (3.85%), Petrol (2.99%), Sugar (0.9%), Tea Lipton (0.2%), and, Vegetable Ghee 2.5 KG (0.14%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.23% and 0.61%.

The Lowest Income Group witnessed a weekly rise of 0.61% while the highest income group recorded a rise of 0.23%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 37.23% and 48.43%.

Yearly SPI for the Lowest Income Group increased by 37.23% while the highest income group recorded an increase of 42.83%.

The average price of Sona urea was recorded at Rs4,613 per 50 kg bag which is 0.19% lower than last week’s price and 66.03% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,216 per 50 kg bag, which is 0.43% lower than the previous week and 16.63% higher than prices last year.

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