Weekly inflation jumps 0.11%

July 12, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.11% WoW during the week ended July 11, 2024, while the SPI rose 23.33% 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 318.96 compared to 318.61 a week earlier, while the index was recorded at 258.63 a year ago.

During the week, out of 51 items, prices of 23 (45.10%) items increased, 06 (11.76%) items decreased and 22 (43.14%) items remained stable.

On a weekly basis, a major increase was observed in the prices of Chicken (16.34%), Powdered Milk (6.07%), Pulse Gram (3.47%), Lawn Cloth (2.43%), and Long Cloth (1.58%).

On the other hand, a major decrease was observed in the prices of Tomatoes (19.47%), Bananas (2.30%), Wheat Flour (1.85%), Onions (1.55%), and Potatoes (0.86%).

The weekly SPI percentage change by income groups showed that SPI increased across 3 quantiles while it decreased across 2 quantiles, ranging between -0.17% and 0.19%.

The lowest income group experienced a weekly fall of 0.17%, while the highest income group experienced a rise of 0.19%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 16.17% and 25.93%.

Yearly SPI for the Lowest Income Group increased by 16.17% while the highest income group recorded an increase of 21.37%.

The average price of Sona urea stood at Rs4,757 per 50 kg bag which is 0.24% higher than last week’s price, while 45.41% higher when compared to last year.

Meanwhile, the average Cement price surged further to Rs1,433 per 50 kg bag, which is 1.68% higher than the previous week and 25.10% higher than prices last year.

Last week, cement prices had surged 10.4% compared to the week before.

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