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Weekly inflation rises by 0.94%

Weekly inflation rises by 0.94%
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June 21, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.94% WoW during the week ended June 20, 2024, while the SPI rose 23.78% 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 316.88 compared to 313.93 a week earlier, while the index was recorded at 256 a year ago.

During the week, out of 51 items, prices of 25 (49.02%) items increased, 5 (9.80%) items decreased and 21 (41.18%) items remained stable.

On a weekly basis, major increase was observed in the prices of Tomatoes (65.84%), Potatoes (5.61%), Onions (3.78%), Bananas (3.29%), and LPG (2.44%).

On the other hand, major decrease was observed in the prices of Petrol (3.76%), Diesel (0.84%), Rice Basmati Broken and Pulse Masoor (0.08%) each and Chicken (0.05%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.69% and 1.58%.

The lowest income group experienced a weekly rise of 1.58%, while the highest income group experienced a rise of 0.69%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 17.52% and 26.97%.

Yearly SPI for the Lowest Income Group increased by 17.52% while the highest income group recorded an increase of 26.97%.

The average price of Sona urea stood at Rs4,748 per 50 kg bag which is 0.16% higher than last week’s price, while 57.15% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,269 per 50 kg bag, which is 0.72% higher than the previous week and 10.81% higher than prices last year.

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Posted on: 2024-06-21T12:39:07+05:00