Weekly SPI inflation jumps 43.25pc YoY

ISLAMABAD: The Sensitive Price Index (SPI)-based inflation for the week ended 28th December 2023, increased by 43.25 per cent on a year-on-year basis mainly due to an increase in the prices of gas charges for q1 (1108.59 per cent), wheat flour bag (73.81 per cent), garlic (70.67 per cent), tomatoes (65.26 per cent), and sugar (54.25 per cent), Pakistan Bureau of Statistics (PBS).

The SPI for the week ended on 28th December 2023 increased by 0.37 per cent due to an increase in the prices of onions (15.21 per cent), chicken (4.76 per cent), moong (2.90 per cent), pulse gram (2.89 per cent), sugar (1.35 per cent), bananas (1.05 per cent), masoor (0.78 per cent), and maash (0.54 per cent).

The year-on-year trend depicts an increase of 43.25 per cent mainly due to increase in the prices of gas charges for q1 (1108.59 per cent), cigarettes (93.22 per cent), chilies powder (81.74 per cent), wheat flour bag (73.81 per cent), garlic (70.67 per cent), tomatoes (65.26 per cent), rice irri-6/9 (58.49 per cent), rice basmati broken (58.47 per cent), gents sponge chappal (58.05 per cent) and sugar (54.25 per cent) while a decrease is observed in the prices of onions (12.57 per cent), mustard oil (5.16 per cent), vegetable ghee 1 kg (1.14 per cent) and bananas (0.20 per cent).

During the week, out of 51 items, prices of 15 (29.41 per cent) items increased, nine (17.65 per cent) items decreased and 27 (52.94 per cent) items remained stable.

The SPI for the week under review was recorded at 311.14 points against 310 points registered in the previous week, according to the PBS data released on Friday.

The SPI for the consumption group up to Rs17,732 and Rs17,732-Rs22,888, Rs22,889–Rs29,517,Rs29,518-Rs44,175 and above Rs44,175 increased by 0.40 per cent, 0.41 per cent, 0.38 per cent, 0.39 per cent and 0.35 per cent respectively.

The items prices of which increased during the period review include onions (15.21 per cent|), chicken (4.76 per cent), moong (2.90 per cent), pulse gram (2.89 per cent), sugar (1.35 per cent), bananas (1.05 per cent), masoor (0.78 per cent), maash (0.54 per cent), firewood whole 40kg (0.31 per cent), mutton (0.24 per cent), beef with bone (0.24 per cent), rice basmati broken (0.24 per cent), LPG (0.21 per cent), tea prepared (0.07 per cent), and cooked beef (0.03 per cent).

Copyright Business Recorder, 2023