Weekly SPI drops by 1.39%, fourth consecutive decline

May 10, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 1.39% WoW during the week ended May 09, 2024, while the SPI rose 22.32% 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 312.56 compared to 316.95 a week earlier, while the index was recorded at 255.53 a year ago.

During the week, out of 51 items, prices of 12 (23.53%) items increased, 13 (25.49%) items decreased and 26 (50.98%) items remained stable.

During the week, a major decrease was observed in the prices of Onions (19.22%), Chicken (18.83%), Wheat Flour (4.00%), LPG (3.67%), and Wheat (3.49%).

On the other hand, a major increase was observed in the prices of Tomatoes (19.24%), Eggs (4.73%), Potatoes (4.38%), Pulse Gram (0.91%), and Cooking Oil 5 Litre (0.89%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging -0.99% and -1.53%.

The lowest income group experienced a weekly fall of 0.99%, while the highest income group experienced a fall of 1.53%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 15.95% and 25.88%.

Yearly SPI for the Lowest Income Group increased by 15.95% while the highest income group recorded an increase of 19.99%.

The average price of Sona urea stood at Rs4,836 per 50 kg bag which is 1.80% lower than last week’s price, while 57.36% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,204 per 50 kg bag, which is 0.95% lower than the previous week and 7.58% higher than prices last year.

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