Weekly inflation increases by 0.96%

March 17, 2023 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group has increased by 0.97% during the week ended on March 16, 2023, while the SPI increased by 45.64% compared to the corresponding period from last year, according to data released by the Pakistan Bureau of Statistics (PBS).

As prices continue to soar, consumers are feeling the pinch of the rising costs of basic goods and necessities.

The Combined Index was at 246.22 compared to 243.87 on March 09, 2023, while the index was recorded at 169.06 a year ago, on March 17, 2022

Out of the 51 monitored items, the average price of 28 items increased, 11 items decreased whereas 12 items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.59% and 1.4%.

The Lowest Income Group witnessed a weekly increase of 0.59% while the highest income group recorded an increase of 1.4%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 41.32% and 47.97%.

Yearly SPI for the Lowest Income Group increased by 41.32% while the highest income group recorded an increase of 47.97%.

The average price of Sona urea stood at Rs.2898 per 50 kg bag which is 0.28% lower than last week’s price and 49.84% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs.1123 per 50 kg bag, which is 0.18% higher than the previous week and 30.28% higher than prices last year.

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