Weekly SPI rises by 1.3%

June 14, 2024 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.3% WoW during the week ended June 13, 2024, while the SPI rose 23.03% 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 313.93 compared to 309.91 a week earlier, while the index was recorded at 255.17 a year ago.

During the week, out of 51 items, prices of 19 (37.26%) items increased, 08 (15.68%) items decreased and 24 (47.06%) items remained stable.

On a weekly basis, major increase was observed in the prices of Tomatoes (27.14%), Chicken (11.75%), Electricity for Q1 (8.73%), Pulse Gram (7.19%), and LPG (6.14%).

On the other hand, major decrease was observed in the prices of Onions (5.00%), Chilies Powder (1.95%), Rice Basmati Broken (1.65%), Garlic (1.32%), and Rice IRRI (1.08%).

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging 1.01% and 1.31%.

The lowest income group experienced a weekly rise of 1.01%, while the highest income group experienced a rise of 1.29%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 16.29% and 26.07%.

Yearly SPI for the Lowest Income Group increased by 16.29% while the highest income group recorded an increase of 20.75%.

The average price of Sona urea stood at Rs4,741 per 50 kg bag which is 0.11% lower than last week’s price, while 56.55% higher when compared to last year.

Meanwhile, the average Cement price was recorded at Rs1,260 per 50 kg bag, which is 0.43% higher than the previous week and 10.11% higher than prices last year.

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