Pakistan’s Weekly Inflation Declines by 0.73%
Published on: June 29, 2024.
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Weekly Inflation Declines by 0.73% in Pakistan
The latest report from the Pakistan Bureau of Statistics (PBS) reveals that the weekly inflation, measured by the Sensitive Price Indicator (SPI), has seen a decrease of 0.73 percent for the combined consumption groups in the week ending June 27.
During this week, the SPI for the mentioned group was recorded at 314.57 points, compared to 316.88 points in the previous week. On a year-on-year basis, the SPI for the combined consumption group in the current week has witnessed an increase of 22.88 percent.
The SPI, with the base year 2015-16 = 100, covers 17 urban centers and 51 essential items for all expenditure groups. It provides valuable insights into the weekly changes in prices.
In terms of consumption groups, the lowest group with up to Rs 17,732 has seen a decrease of 0.80 percent, with the SPI going down to 306.62 points from last week’s 309.10 points. Similarly, the SPI for the consumption groups of Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175, and above Rs 44,175 has decreased by 0.85 percent, 0.77 percent, 0.79 percent, and 0.67 percent respectively.
Out of the 51 items included in the SPI, prices of 18 items have increased (35.29%), 8 items have decreased (15.69%), and 25 items have remained stable (49.02%).
Some of the notable changes in prices on a week-on-week basis include a decrease in the average prices of tomatoes (25.25%), chicken (14.20%), onions (3.90%), garlic (2.80%), bread (0.81%), rice basmati broken (0.15%), eggs (0.09%), and rice Irri (0.04%). On the other hand, there has been an increase in the average prices of items such as LPG (5.38%), pulse gram (4.72%), pulse moong (3.20%), cooked daal (1.87%), pulse masoor (1.79%), potatoes (0.99%), gur (0.87%), bananas and wheat flour (0.61%) each, pulse mash (0.32%), and firewood (0.20%).
Looking at the changes on a year-on-year basis, there has been a decrease in the average prices of wheat flour (32.49%), chicken (31.87%), cooking oil 5 liters (15.98%), vegetable ghee 2.5 kilograms (13.29%), vegetable ghee 1 kilogram (12.31%), bananas (11.15%), mustard oil (8.07%), tea packet (2.52%), and petrol (1.38%). Conversely, certain commodities have seen an increase in their average prices compared to the same period last year, including gas charges for Q1 (570.00%), tomatoes (117.52%), onions (113.98%), chili powder (54.81%), garlic (36.61%), shirting (30.75%), salt powder (29.49%), pulse gram (28.45%), gents sandal (25.01%), pulse mash (22.99%), pulse moong (22.50%), and electricity charges for Q1 (21.46%).
This report highlights the changes in the prices of essential goods, which can have a significant impact on consumers’ purchasing power and cost of living. It provides valuable information for policymakers, businesses, and individuals to make informed decisions.
To stay updated on the latest developments in the rice industry, including prices and suppliers, visit [hasrice.com](https://www.hasrice.com). For information specifically related to Pakistani rice, visit [pakistanrice.com](https://www.pakistanrice.com).
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