Weekly SPI-based inflation down 0.79pc

ISLAMABAD: Weekly Sensitive Price Indicator (SPI)-based inflation for the week ended on April 18, 2024, has decreased by 0.79 percent, according to the Pakistan Bureau of Statistics (PBS).

The SPI is computed on a weekly basis after collecting prices of 51 essential items from 50 markets in 17 cities of the country.

The PBS said that the major decrease was observed in the prices of wheat flour (8.97 percent), bananas (8.67 percent), electricity charges for Q1 (7.16 percent), eggs (6.67 percent), LPG (2.84 percent), onion (1.40 percent), chilies powder (1.31 percent), cooking oil 5-litre (0.45 percent), masoor (0.43 percent), and vegetable ghee 2.5kg (0.34 percent).

On the other hand, a major increase was observed in the prices of potatoes (17.07 percent), tomatoes (12.67 percent), chicken (11.60 percent), lawn printed and shirting (3.55 percent) each, garlic (2.88 percent), diesel (2.87 percent), beef (2.56 percent), maash (1.62 percent), cooked beef (1.31 percent), and sugar (1.10 percent).

According to the PBS, during the week, out of 51 items, prices of 22 (43.14 percent) items increased, 11 (21.57 percent) items decreased and 18 (35.29 percent) items remained stable.

The combined SPI during the week under review was recorded at 323.71 points against 326.29 for the previous week.

For the week ended on April 18, 2024, the SPI and percentage changes by consumption groups up to Rs 17,732, Rs 17,732-Rs 22,888, Rs 22,889-Rs 29,517, Rs 29,518-Rs 44,175 and above Rs 44,175 was recorded -0.71 percent, -0.83 percent,-0.90 percent, -0.79 percent, and -0.70 percent respectively.

The year-on-year trend depicts an increase of 28.54 percent due to an increase in gas charges for Q1 (570.00 percent), onions (155.00 percent), tomatoes (126.94 percent), chilies powder (83.62 percent), gents sandal (66.71 percent), garlic (65.96 percent), gents sponge chappal (58.05 percent), salt powder (31.87 percent), chicken (30.91 percent), energy saver (29.83 percent), gur (27.99 percent), and maash (26.39 percent) while a decrease is observed in the prices of bananas (35.20 percent), cooking oil 5-litre (20.91 percent), vegetable ghee 2.5kg (17.65 percent), vegetable ghee 1kg (17.61 percent), mustard oil (13.83 percent), wheat flour (11.05 percent), LPG (6.14 percent), eggs (4.51 percent), and diesel (0.85 percent).

Copyright Business Recorder, 2024