Weekly inflation moves down by 0.09%

December 30, 2022 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.09% during the week ended Dec 29, 2022 while the SPI increased by 29.3% compared to the corresponding period from last year, as per the latest data released by the Pakistan Bureau of Statistics (PBS).

The decline in SPI is driven by the the decrease in prices of potatoes and tomatoes to 50 kg and 60kg.

Meanwhile, the reduction in electricity charges have also contributed to cool down weekly inflation.

According to the data the Combined Index was at 217.2 compared to 217.39 on December 22, 2022 while the index was recorded at 167.98 a year ago, on December 30, 2021.

Out of the 51 monitored items, the average price of 23 items increased, 7 items decreased whereas 21 items registered no change during the week.

The weekly SPI percentage change by income groups showed a mixed trend with SPI ranging between -0.12% and 0.02%.

The Lowest Income Group witnessed a weekly decrease of 0.07% while the highest income group recorded a decrease of 0.12%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 27.8% and 31.35%.

Yearly SPI for the Lowest Income Group increased by 27.8% while the highest income group recorded an increase of 29.61%.

The average price of sona urea stood at Rs2626 per 50 kg bag which is 1.73% higher than last week’s price and 34.10% higher when compared to last year.

Meanwhile, average cement price was recorded at Rs1043 per 50 kg bag, which is 0.05% lower than the previous week and 41.31% higher than prices last year.

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