Weekly inflation rises another 0.76%

July 19, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.76% WoW during the week ended July 18, 2024, while the SPI rose 24.36% 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 321.40 compared to 318.96 a week earlier, while the index was recorded at 258.45 a year ago.

During the week, out of 51 items, prices of 29 (56.87%) items increased, 05 (9.80%) items decreased and 17 (33.33%) items remained stable.

During the week, a major increase was observed in the prices of Chicken (10.26%), Powdered Milk (4.56%), Petrol (3.77%), Eggs (2.76%), and Potatoes (2.30%).

On the other hand, a major decrease was observed in the prices of Tomatoes (4.45%), Bananas (2.25%), Onions (0.99%), Pulse Masoor (0.19%), and LPG (0.12%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.49% and 0.87%.

The lowest income group experienced a weekly rise of 0.49%, while the highest income group experienced a rise of 0.87%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 16.14% and 26.45%.

Yearly SPI for the Lowest Income Group increased by 16.14% while the highest income group recorded an increase of 22.77%.

The average price of Sona urea stood at Rs4,788 per 50 kg bag which is 0.64% higher than last week’s price, while 42.23% higher when compared to last year.

Meanwhile, the average Cement price surged further to Rs1,455 per 50 kg bag, which is 1.53% higher than the previous week and 27.40% higher than prices last year.

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