Weekly inflation rises 0.11%

May 31, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.11% WoW during the week ended May 30, 2024, while the SPI rose 21.4% 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 308.52 compared to 308.19 a week earlier, while the index was recorded at 254.13 a year ago.

During the week, out of 51 items, prices of 14 (27.45%) items increased, 14 (27.45%) items decreased and 23 (45.10%) items remained stable.

During the week, a major increase was observed in the prices of Tomatoes (11.25%), Onions (3.62%), Pulse Mash (2.00%), Bananas (1.78%), and Potatoes (1.23%).

On the other hand, a major decrease was observed in the prices of Eggs (6.14 %), Chilies Powder (5.73%), LPG (5.40%), Garlic (4.02%), and Rice IRRI (2.93%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.08% and 0.15%.

The lowest income group experienced a weekly rise of 0.09%, while the highest income group experienced a rise of 0.08%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 14.68% and 24.67%.

Yearly SPI for the Lowest Income Group increased by 14.68% while the highest income group recorded an increase of 19.24%.

The average price of Sona urea stood at Rs4,796 per 50 kg bag which is 0.16% lower than last week’s price, while 55.19% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,237 per 50 kg bag, which is 0.30% higher than the previous week and 9.80% higher than prices last year.

Copyright Mettis Link News