Weekly inflation eases by 1.70 percent, driven by SPI
Published on: October 21, 2023.
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Weekly Inflation Rate Decreases in Pakistan
According to the Pakistan Bureau of Statistics (PBS), the weekly inflation rate, measured by the Sensitive Price Indicator (SPI), saw a decrease of 1.70 percent for the combined consumption group during the week ending October 19. This is good news for consumers as it indicates a slight decrease in overall prices.
During the week under review, the SPI for the combined consumption group was recorded at 278.04 points, compared to 282.86 points in the previous week. However, compared to the same week last year, the SPI for the combined consumption group has increased by 35.45 percent.
The SPI, which uses the base year 2015-16 = 100, covers 17 urban centers and 51 essential items across all expenditure groups. This index provides a comprehensive picture of price changes in various goods and services.
Specifically, for the lowest consumption group with expenditure up to Rs 17,732, the SPI decreased by 0.88 percent, reaching 284.47 points from the previous week’s 287.01 points. Similarly, the SPI for other consumption groups also witnessed a decline: Rs 17,732-22,888 (1.13 percent), Rs 22,889-29,517 (1.25 percent), Rs 29,518-44,175 (1.49 percent), and above Rs 44,175 (2.02 percent).
Out of the 51 items analyzed, 14 showed an increase in prices, 24 items experienced a decrease, and 13 items remained stable. Notable decreases in prices include onions (8.45%), chicken (5.46%), pulse masoor (3.38%), sugar (3.07%), garlic (2.24%), and rice basmati broken (2.17%). On the other hand, eggs (3.44%), salt powdered (2.63%), and shirting (2.18%) were among the items that recorded an increase in prices.
Looking at the year-on-year comparison, certain commodities have seen significant price increases. Electricity charges for q1 increased by 136.89 percent, while gas charges for q1 rose by 108.38 percent. Cigarettes (94.46%), chilies powder (84.11%), and rice basmati broken (81.74%) also experienced notable increases. However, some items have seen price decreases, such as tomatoes (45.75%), onions (23.76%), and pulse gram (5.63%).
This data suggests that the weekly inflation rate in Pakistan is fluctuating, with both increases and decreases observed. Consumers should carefully monitor prices and adjust their budgets accordingly.
Source: [Nation.com.pk](https://www.nation.com.pk)
