Weekly SPI rises by 1.28%

July 05, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.28% WoW during the week ended July 04, 2024, while the SPI rose 23.59% 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 318.61 compared to 314.57 a week earlier, while the index was recorded at 257.79 a year ago.

During the week, out of 51 items, prices of 29 (56.86%) items increased, 05 (9.80%) items decreased and 17 (33.34%) items remained stable.

On a weekly basis, a major increase was observed in the prices of Tomatoes (70.77%), Wheat Flour (10.57%), Powdered Milk (8.90%), Diesel (3.58%), and Petrol (2.88%).

On the other hand, a major increase was observed in the prices of Onions (9.05%), Wheat (1.79%), Potatoes (1.04%), Eggs (0.79%), and Bananas (0.60%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 1.23% and 1.44%.

The lowest income group experienced a weekly rise of 1.43%, while the highest income group experienced a rise of 1.23%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 16.97% and 26.49%.

Yearly SPI for the Lowest Income Group increased by 16.97% while the highest income group recorded an increase of 21.39%.

The average price of Sona urea stood at Rs4,746 per 50 kg bag which is 0.13% higher than last week’s price, while 51.52% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,409 per 50 kg bag, which is a significant 10.48% higher than the previous week and 23.16% higher than prices last year.

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