Weekly SPI inflation down 1.06pc

ISLAMABAD: The Sensitive Price Index-based inflation for the week ended May 16, 2024, decreased by 1.06 per cent due to a decline in the prices of tomatoes (31.18 per cent), onions (21.84 per cent), garlic (7.76 per cent), petrol (5.32 per cent), wheat flour and LPG (3.66 per cent) each, diesel (2.79 per cent), and bananas (0.87 per cent), says Pakistan Bureau of Statistics (PBS).

The year-on-year trend depicts an increase of 21.22 per cent mainly due to an increase in the prices of gas charges for q1 (570.00 per cent), onions (87.82 per cent), chilies powder (69.71 per cent), garlic (61.86 per cent), tomatoes (35.65 per cent), salt powder (32.72 per cent), shirting (31.65 per cent), energy saver (27.94 per cent), gents sandal (25.01 per cent), beef (24.36 per cent), maash (22.52 per cent) and sugar (20.58 per cent) while a major decrease is observed in the prices of bananas (39.37 per cent), wheat flour (29.85 per cent), chicken (25.62 per cent), cooking oil 5-litre (19.65 per cent), vegetable ghee 1kg (16.42 per cent), vegetable ghee 2.5kg (16.07 per cent), mustard oil (12.84 per cent), LPG (11.11 per cent), and eggs (9.32 per cent).

During the week, out of 51 items, prices of 20 (39.22 per cent) items increased, 16 (31.37 per cent) items decreased and 15 (29.41 per cent) items remained stable.

The SPI for the week under review was recorded at 309.25 points against 312.56 points registered in the previous week, according to the PBS data released on Friday.

The SPI for the consumption group up to Rs17,732, Rs17,732-Rs22,888, Rs22,889-Rs29,517, Rs29,518-Rs44,175 and above Rs44,175 decreased by 1.17 per cent, 1.14 per cent, 1.02 per cent, 1.04 per cent, and 1.06 per cent respectively.

The items, prices of which, increased during the period under review include cooked daal (1.96 per cent), shirting (1.74 per cent), potatoes (1.46 per cent), beef with bone (1.11 per cent), mutton (1.04 per cent), pulse gram (1 per cent), energy saver (0.73 per cent), long cloth 57” Gul Ahmed/Al Karam (0.73 per cent), eggs (0.73 per cent), cooked beef (0.50 per cent), chicken (0.30 per cent), gur (0.28 per cent), vegetable ghee Dalda/Habib or other superior quality (0.19 per cent), vegetable ghee Dalda/Habib 2.5kg tin each (0.16 per cent), powdered milk NIDO (0.16 per cent), cooking oil Dalda or other similar brand (SN), 5-litre tin each (0.11 per cent), and salt powdered (0.10 per cent).

Items prices of which decreased during the period under review include tomatoes (31.18 per cent), onions (21.84 per cent), garlic (7.76 per cent), petrol super (5.32 per cent), wheat flour bag 20kg (3.66 per cent), LPG (3.66 per cent), Hi-speed diesel (2.79 per cent), rice basmati broken (1.52 per cent), chilies powder National 200gm packet each (1.31 per cent), masoor (1.08 1 per cent), bananas (0.87 per cent), rice IRRI-6/9 (0.82 per cent), maash (0.21 per cent), mustard oil (0.17 per cent), moong (0.17 per cent), and sugar (0.13 per cent).

Copyright Business Recorder, 2024