Weekly inflation rises by 0.96%

April 05, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.96% WoW during the week ended April 04, 2024, while the SPI rose 29.45% YoY compared to the corresponding period from last year.

It is crucial to note that this weekly rise comes after two consecutive weekly drops.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 326.29 compared to 323.20 a week earlier, while the index was recorded at 252.06 a year ago.

During the week, out of 51 items, prices of 16 (31.37%) items increased, 13 (25.49%) items decreased and 22 (43.14%) items remained stable.

During the week, major increase was observed in the prices of Ladies Sandal (12.52%), Tomatoes (11.93%), Gents Sandal (8.70%), Petrol (3.45%) and Chicken (2.99%)

On the other hand, major decrease was observed in the prices of Bananas (3.57%), Wheat Flour (2.68%), Eggs and LPG (1.89%) each, Diesel (1.18%) and Gur (0.63%).

The weekly SPI percentage change across all income groups indicates a rise, ranging between 0.83% and 1.02%.

The lowest income group experienced a weekly rise of 0.83%, while the highest income group experienced an increase of 1.02%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 22.04% and 33.30%.

Yearly SPI for the Lowest Income Group increased by 22.04% while the highest income group recorded an increase of 26.81%.

The average price of Sona urea stood at Rs4,821 per 50 kg bag which is 0.15% lower than last week’s price and 64.58% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,220 per 50 kg bag, which is unchanged compared to the previous week and 8.36% higher than prices last year.

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