Weekly SPI inflation down 0.62pc

ISLAMABAD: The Sensitive Price Index (SPI)-based inflation for the week ended August 29, 2024, decreased by 0.62 per cent due to a decline in the prices of chicken (3.02 per cent), bananas (2.35 per cent), wheat flour (0.85 per cent) and sugar (0.49 per cent), according to the Pakistan Bureau of Statistics (PBS).

The year-on-year trend depicts an increase of 15.34 per cent mainly due to increase in the prices of gas charges for q1 (570 per cent), onions (95.16 per cent), pulse gram (53.59 per cent), tomatoes (43.21 per cent), powered milk (26.14 per cent), garlic (25.74 per cent), beef (23.93 per cent), moong (23.72 per cent), shirting (23.70 per cent), salt powder (21.45 per cent), Georgette (15.18 per cent) and energy saver (12.87 per cent), while major decrease is observed in the prices of wheat flour (36.73 per cent), chilies powder (18.94 per cent), electricity charges for q1 (16.91 per cent), sugar (16.08 per cent), cooking oil 5 litre (11.32 per cent), petrol (10.07 per cent), diesel (9.22 per cent), rice basmati broken (8.81 per cent), vegetable ghee 2.5kg (7.24 per cent), vegetable ghee 1kg (6.20 per cent), gur (4.63 per cent) and washing soap (0.35 per cent).

During the week, out of 51 items, prices of 17 (33.33 per cent) items increased, 10 (19.61 per cent) items decreased and 24 (47.06 per cent) items remained stable.

The SPI for the week under review was recorded at 319.73 points against 321.72 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 increased by 0.16 per cent and 0.11 per cent respectively while decreased for Rs22,889-Rs29,517, Rs29,518-Rs44,175 and above Rs44,175 by 0.64 per cent, 0.86 per cent and 0.58 per cent respectively.

Copyright Business Recorder, 2024