Weekly SPI inches up by 0.3%

August 09, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.3% WoW during the week ended August 08, 2024, while the SPI rose 17.96% 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 322.54 compared to 321.56 a week earlier, while the index was recorded at 273.43 a year ago.

During the week, out of 51 items, prices of 23 (45.10%) items increased, 7 (13.72%) items decreased and 21 (41.18%) items remained stable.

On a weekly basis, a major increase was observed in the prices of Onions (32.23%), Eggs (4.28%), Garlic (3.23%), LPG (1.73%), and Georgette (1.32%).

On the other hand, a decrease was observed in the prices of Tomatoes (19.12%), Bananas (1.55%), Wheat Flour (1.39%), Chilies Powder (1.31%), and Pulse Masoor (0.68%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 0.27% and 0.46%.

The lowest income group experienced a weekly rise of 0.46%, while the highest income group experienced a rise of 0.27%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 11.15% and 20.35%.

Yearly SPI for the Lowest Income Group increased by 11.15% while the highest income group recorded an increase of 17.2%.

The average price of Sona urea stood at Rs4,768 per 50 kg bag which is 0.18% higher than last week’s price, while 37.39% higher when compared to last year.

Meanwhile, the average Cement price rose to Rs1,456 per 50 kg bag, which is 0.14% higher than the previous week and 25.35% higher than prices last year.

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