Weekly inflation increases by 1.35%

March 15, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.35% WoW during the week ended March 14, 2024, while the SPI rose 32.89% 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 327.21 compared to 322.86 on March 07, 2024, while the index was recorded at 246.22 a year ago, on March 16, 2023.

Out of 51 items, prices of 18 (35.29%) items increased, 10 (19.61%) items decreased and 23 (45.10%) items remained stable.

During the week, a major increase was observed in the prices of Tomatoes (21.96%), Bananas (21.76%), Eggs (7.15%), Onions (5.57%), and LPG (4.45%).

Despite the government imposing a ban on the export of onions and bananas, prices for both food items continue to experience significant increases.

On the other hand, a major decrease was observed in the prices of Wheat (3.23%), Cooking Oil 5 Litre (1.08%), Vegetable Ghee 2.5 Kg (1.07%), Wheat Flour (0.95%) and Sugar (0.64%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.86% and 1.55%.

The Lowest Income Group witnessed a weekly rise of 0.91% while the highest income group recorded a rise of 1.55%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 27.83% and 38.45%.

Yearly SPI for the Lowest Income Group increased by 27.83% while the highest income group recorded an increase of 28.9%.

The average price of Sona urea stood at Rs4,894 per 50 kg bag which is 1.1% lower than last week’s price and 68.86% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,227 per 50 kg bag, which is 0.39% lower than the previous week and 9.28% higher than prices last year.

Copyright Mettis Link News