Weekly inflation rises 0.44%

October 04, 2024 (MLN): Pakistan's short-term inflation increased by 0.44% compared to last week as of October 03, 2024, while it rose 13.18% over the prior year, the Pakistan Bureau of Statistics (PBS) reported on Friday.

PBS calculates short-term inflation using the sensitive price indicator (SPI) on a weekly basis to assess the price movement of essential commodities at shorter interval of time so as to review the price situation in the country.

SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country. During the week, out of these items, prices of 21 (41.18%) items increased, 10 (19.61%) items decreased and 20 (39.21%) items remained stable.

On a weekly basis, a major increase was observed in the prices of Tomatoes (18.51%), Onions (5.89%), Chicken (3.72%), Wheat Flour (3.63%), and Garlic (2.47%).

On the other hand, a decrease was observed in the prices of Eggs (1.45%), Sugar (1.39%), Diesel (1.32%), Bananas (1.29%), and Potatoes (1.08%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.36% and 0.68%.

The lowest income group experienced a weekly rise of 0.68%, while the highest income group experienced a rise of 0.36%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 9.4% and 16.48%.

Yearly SPI for the Lowest Income Group increased by 9.4% while the highest income group recorded an increase of 11.52%.

The average price of Sona urea stood at Rs4,609 per 50 kg bag which is 0.59% higher than last week’s price, while 22.06% higher when compared to last year.

Meanwhile, the average Cement price rose to Rs1,460 per 50 kg bag, which is 0.10% higher than the previous week and 21.54% higher than prices last year.

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