Weekly inflation rises 0.17%

July 26, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.17% WoW during the week ended July 25, 2024, while the SPI rose 20.09% 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 321.95 compared to 321.40 a week earlier, while the index was recorded at 268.08 a year ago.

During the week, out of 51 items, prices of 19 (37.25%) items increased, 8 (15.69%) items decreased and 24 (47.06%) items remained stable.

During the week, a major increase was observed in the prices of Chicken (4.80%), Garlic (2.01%), Pulse Gram (1.87%), Eggs (1.71%), and Beef (0.93%).

On the other hand, a major decrease was observed in the prices of Tomatoes (9.19%), Onions (2.14%), LPG (1.04%), Bananas (0.53%), and Wheat Flour (0.35%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.08% and 0.19%.

The lowest income group experienced a weekly rise of 0.08%, 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 13.41% and 22.23%.

Yearly SPI for the Lowest Income Group increased by 13.41% while the highest income group recorded an increase of 18.41%.

The average price of Sona urea stood at Rs4,781 per 50 kg bag which is 0.14% lower than last week’s price, while 40.96% higher when compared to last year.

Meanwhile, the average Cement price surged further to Rs1,460 per 50 kg bag, which is 0.36% higher than the previous week and 28.05% higher than prices last year.

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