Weekly inflation increases by 0.71%

November 03, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.71% WoW during the week ended November 02, 2023, while the SPI increased by 29.88% 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 279.08 compared to 277.11 on October 26, 2023, while the index was recorded at 214.88 a year ago, on November 03, 2022.

Out of 51 items, the average price of 12 items increased, 14 items decreased, and 25 items remained stable.

The major increase was observed in the prices of Tomatoes (25.58%), Onions (25.25%), Chicken (10.79%), Potatoes (1.61%), Tea Lipton (1.58%), Eggs (1.30%), Garlic (0.50%), Rice Basmati Broken (0.19%), Georgette (0.28%) and Firewood (0.05%).

On the other hand, major decrease was observed in the prices of Gur (2.66%), Banana (1.78%), Cooking Oil 5 Litre (1.62%), Vegetable Ghee 1 KG (1.23%), LPG Cylinder (1.05%), Pulse Masoor (0.93%), Wheat Flour (0.62%), Washing Soap (0.41%) and Mustard Oil (0.32%).

To note, this comes after the SPI recorded two consecutive WoW decreases.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.64% and 0.86%.

The Lowest Income Group witnessed a weekly increase of 0.85% while the highest income group recorded an increase of 0.64%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 28.60% and 30.22%.

Yearly SPI for the Lowest Income Group increased by 28.60% while the highest income group recorded an increase of 29.91%.

The average price of Sona urea stood at Rs3,847 per 50 kg bag which is 1.66% higher than last week’s price and 55.4% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,192 per 50 kg bag, which is 0.27% lower than the previous week and 14.81% higher than prices last year.

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