Weekly inflation posts decline

ISLAMABAD: Weekly inflation for the current week ended on May 2, 2024, has decreased by one percent, according to the Pakistan Bureau of Statistics (PBS).

The Sensitive Price Indicator (SPI) is computed on a weekly basis after collecting prices of 51 essential items from 50 markets in 17 cities to assess the price movement of the essential commodities at a shorter interval of time.

According to the PBS, major decrease was observed in the prices of tomatoes (22.05 per cent), chicken (8.03 per cent), onions (7.71 per cent), wheat flour (6.88 per cent), bananas (5.25 per cent), diesel (2.89 per cent), chilies powder (2.59 per cent), LPG (2.36 per cent), petrol (1.84 per cent), masoor(1.25 per cent), and moong (0.90 per cent).

On the other hand, a major increase is observed in the prices of potatoes (6.06 per cent), salt powder (0.91 per cent), garlic (0.85 per cent), powder milk (0.70 per cent), mutton (0.65 per cent), eggs (0.53 per cent), cigarettes (0.51 per cent), curd (0.46 per cent), and beef (0.45 per cent).During the week, out of 51 items, prices of 15 (29.42 per cent) items increased, 18 (35.29 per cent) items decreased and 18 (35.29 per cent) items remained stable.

The year-on-year (YoY) trend depicts an increase of 24.37 per cent, gas charges for Q1 (570.00 per cent), onions (145.15 per cent), tomatoes (79.43 per cent), garlic (72.46 per cent), chilies powder (71.96 per cent), salt powder (33.07 per cent), energy saver (29.83 per cent), shirting (29.71 per cent), gents sandal (25.01 per cent), maash (24.72 per cent), gur (24.49 per cent), and beef (23.96 per cent).

While a decrease is observed in the prices of bananas (37.76 per cent), wheat flour (23.15 per cent), cooking oil 5-litre (20.45 per cent), vegetable ghee 2.5kg (17.10 per cent), vegetable ghee 1kg (16.75 per cent), mustard oil (12.74 per cent), eggs (10.46 per cent), LPG (8.52 per cent), chicken (3.99 per cent), and diesel (2.04 per cent).

The PBS said that for the week ended on May 2, 2024, the SPI and percentage changes by consumption groups up to Rs17,732, Rs17,732-Rs22,888, Rs22,889-Rs29,517, Rs29,518-Rs 44,175 and above Rs44,175 was recorded -1.09 per cent, -1,12 per cent, -1.02 per cent, -1.04 per cent, and -0.95 per cent, respectively.

Copyright Business Recorder, 2024