Weekly inflation sees highest increase of 2% since Feb'21

June 03, 2022 (MLN): The weekly Sensitive Price Indicator (SPI) for the combined consumption group recorded an increase of 2% for the week ended on June 02, 2022 which was the highest weekly increase since February 25, 2021, Pakistan Bureau of Statistics (PBS) reported Friday.

The increase was mainly due to a jump observed in the prices of essential food items and High-Speed Diesel (HSD).

The combined index clocked in at 178.12 compared to 174.62 on May 26, 2022, while on yearly basis, the SPI observed a surge of 20% when the index was recorded at 148.38 a year ago, on June 3, 2021.

Out of the 51 monitored items, 28 commodities that witnessed an increase in their prices on a WoW basis include, Potatoes (9.08%), Eggs (6.38%), Vegetable Ghee 1 kg (4.59%), Bread (2.72%), Mustard Oil (2.65%), Pulse Masoor (2.33%), Cooking Oil 5 litre (2.18%), Pulse Gram (1.99%), Sugar (1.93%), Cooked Beef & Pulse Mash (1.69%) each, Vegetable Ghee 2.5 kg (1.51%) and Bananas (1.35%), Hi-Speed Diesel (20.69%), Petrol Super(19.91%) and Toilet Soap (1.40%) with joint impact of (2.09%) into the overall SPI for combined group of (2.00%).

Meanwhile, 5 items registered an increase in the week namely, Chicken (4.68%), Garlic (2.75%), Wheat Flour (1.91%), Tomatoes (1.26%) and LPG (0.74%). While the price of 18 commodities remained stable.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles, ranging between 1.02% and 2.44%.

The lowest income group saw a weekly jump of 1.02% while the highest income group witnessed 2.44% increase in weekly inflation.

On a yearly basis, analysis of SPI across different income segments showed that weekly inflation increased across all quantiles ranging between 16.67% and 21.68%.

Yearly SPI for the lowest income group rose by 16.67% while the highest income group recorded a surge of 21.68%.

The average price of sona urea during the review week stood at Rs2,142 per 50 kg bag which was around 2.11% lower than last week’s price while 22.65% higher when compared to the same week last year.

Going by the PBS report, the average cement price stands at Rs892 per 50 kg bag, up by 2% on weekly basis, and 43.3% on YoY basis.

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