Weekly SPI record increase of 0.24pc as price of food items rise

The Sensitive Price Indicator (SPI) for the week ended recorded an increase of 0.24 percent over last week. The increase was mainly due to a rise in the prices of food items. Whereas, year on year trend depicts an increase of 7.70pc.

As per the Pakistan Bureau of Statistics, this increase is mainly due to rise in prices of food items i.e. Potatoes (7.92%), Tomatoes (3.52%), Eggs (3.47%) and Bananas (1.02%) and among non-food items Shirting (1.32%) with joint impact of (0.41) into the overall SPI for combined group of (0.24%).

On the other hand, a decrease was observed in the prices of Onions (4.98%), Sugar (2.97%), Diesel (1.74%), Petrol (1.67%), Pulse Mash (1.01%), Pulse Masoor (0.90%), LPG (0.82%), Pulse Moong (0.81%), Gur (0.75%), Beef (0.58%), Energy Saver (0.49%), Rice Irri 6/9 (0.37%), Pulse Gram (0.33%), Wheat Flour (0.31%), Garlic (0.28%) and Rice Basmati Broken (0.23%).

During the week, out of 51 items, prices of 13 (25.49%) items increased, 18 (35.29 %) items decreased and 20 (39.23%) items remained constant.

The year on year trend depicts an increase of 7.70% with most of the items increased mainly Chilies Powder (86.31%), Potatoes (72.74%), Eggs (53.89%), Chicken (48.31%), Sugar (36.22%), Match Box (24.40%), Sufi Washing Soap (20.79%), Pulse Mash (19.40%), Pulse Moong (19.30%), Pulse Masoor (17.92%), Long Cloth (16.57%), Gur (16.26%), Vegetable Ghee 1kg (16.05%), Bread (15.95%), and Mustard Oil (15.90%).

While a major decrease was observed in the price of Tomatoes (34.69%), Diesel (20.25%), Garlic (19.34%), Petrol (11.75%), Onions (11.66%), Electricity for Q1 (8.77%) and LPG (2.63%).

It is pertinent to mention that Sensitive Price Indicator (SPI) is computed on weekly basis to assess the price movements of essential commodities at shorter interval of time so as to review the price situation in the country. SPI comprises of 51 essential items and the prices are being collected from 50 markets in 17 cities of the country.