Weekly inflation increases by 0.45%

June 07, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.45% WoW during the week ended June 06, 2024, while the SPI rose 21.69% 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 309.91 compared to 308.52 a week earlier, while the index was recorded at 254.67 a year ago.

During the week, out of 51 items, prices of 19 (37.26%) items increased, 14 (27.45%) items decreased and 18 (35.29%) items remained stable.

On a weekly basis, major increase was observed in the prices of Onions (33.21%), Tomatoes (15.34%), Bananas (4.93%), Pulse Gram (3.69%), and Potatoes (2.62%).

On the other hand, major decrease was observed in the prices of Bread (3.02%), Garlic (2.00%), Wheat, (-1.99%), Petrol (1.74%), and Pulse Masoor (1.43%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.33% and 0.81%.

The lowest income group experienced a weekly rise of 0.81%, while the highest income group experienced a rise of 0.33%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 15.26% and 25.04%.

Yearly SPI for the Lowest Income Group increased by 15.26% while the highest income group recorded an increase of 19.45%.

The average price of Sona urea stood at Rs4,746 per 50 kg bag which is 1.04% lower than last week’s price, while 56.01% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,255 per 50 kg bag, which is 1.40% higher than the previous week and 9.82% higher than prices last year.

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