Weekly Inflation Increases by 0.73%
Published on: November 12, 2023.
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Weekly Inflation in Pakistan Sees Increase of 0.73%
The latest report from the Pakistan Bureau of Statistics (PBS) has revealed that the weekly inflation, measured by the Sensitive Price Indicator (SPI), increased by 0.73 percent for the combined consumption group during the week ended on November 08.
According to the data provided by the PBS, the SPI for the week reached 281.12 points, compared to 279.08 points in the previous week. Furthermore, the SPI for the combined consumption group showed an increase of 29.86 percent compared to the corresponding week of the previous year.
The SPI, which has a base year of 2015-16 =100, covers 17 urban centers and 51 essential items across all expenditure groups. It provides valuable information on the prices of essential items and serves as an indicator of inflation.
During the week under review, the lowest consumption group, which includes individuals with spending up to Rs 17,732, experienced a 1.05 percent increase in the SPI, reaching 289.19 points. Similarly, consumption groups with spending ranging from Rs 17,732-22,888; Rs 22,889-29,517; Rs 29,518-44,175; and above Rs 44,175 saw respective increases of 1.02 percent, 0.88 percent, 0.80 percent, and 0.59 percent.
Out of the total 51 items, prices for 20 items increased, 8 items decreased, and 23 items remained stable. Among the items that witnessed a decrease in their average prices on a week-on-week (WoW) basis were gur (2.43%), vegetable ghee 1 kg (0.36%), rice irri6/9 (0.34%), vegetable ghee 2.5 kg (0.25%), rice basmati broken (0.13%), cooking oil 5 liters (0.13%), pulse mash (0.12%), and pulse moong (0.05%).
On the other hand, items that experienced an increase in average prices on a WoW basis included tomatoes (15.43%), potatoes (4.47%), wheat flour (2.36%), garlic (2.16%), salt powdered (1.82%), chicken (1.60%), tea packet (0.96%), georgette (0.95%), banana (0.94%), and shirting (0.58%).
When comparing prices on a year-on-year (YoY) basis, onions (32.27%), tomatoes (9.08%), mustard oil (3.88%), pulse gram (2.80%), and vegetable ghee 1 kg (1.69%) witnessed a decrease in prices. Meanwhile, gas charges for q1 (108.38%), cigarettes (94.46%), chilies powder (84.11%), wheat flour (81.23%), rice basmati broken (77.93%), rice irri-6/9 (60.65%), garlic (58.23%), gents sponge chappal (58.05%), sugar (57.57%), gents sandal bata (53.37%), salt (53.02%), and gur (50.88%) recorded an increase in their average prices on a YoY basis.
This report highlights the changes in prices for essential items, providing valuable insights for both consumers and businesses in Pakistan’s economy.
Source: Nation.com.pk
