Spi Edges Lower, But Remains High
Published on: December 16, 2023.
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In the week ending Thursday, the Sensitive Price Indicator (SPI) recorded a slight 0.06% decline compared to the previous week, offering a small relief for consumers. However, despite this minor dip, the weekly inflation rate remains high in Pakistan. According to the Pakistan Bureau of Statistics (PBS), the inflation reading surged by 43.16% compared to the same week last year.
The decrease in SPI on a week-on-week basis can be attributed to a 12.18% decrease in potato prices and a 5.18% drop in tomato prices. Additionally, there were notable reductions in the prices of Lipton tea (2.57%), chicken (1.19%), rice basmati broken (0.52%), mustard oil (0.36%), garlic (0.33%), and 2.5 Kg vegetable ghee (0.31%).
On the other hand, there were significant increases in the prices of sugar (6.02%), pulse gram (2.57%), eggs (2.33%), rice irri-6/9 (1.54%), pulse moong (1.23%), georgette (1.16%), onion (1.05%), cooked beef (0.76%), pulse masoor (0.69%), shirting (0.43%), long cloth (0.20%), and the price of LPG gas (0.16%) during the week.
Out of 51 items, prices of 19 (37.26%) increased, 10 (19.60%) decreased, and 22 (43.14%) remained unchanged during the week.
It’s important to stay updated with the latest news on inflation and its impact on the economy. Check out the source article on The Express Tribune for more information. [Source](https://tribune.com.pk){:target=”_blank” rel=”nofollow”}
