Weekly Inflation Increases by 0.45% due to Surging Onion and Tomato Prices
Published on: June 8, 2024.
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According to the latest data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week ending on June 6, 2024, showed a 0.45% increase. This rise in the SPI was primarily driven by higher prices for onions, which surged by 33.21%, and tomatoes, which rose by 15.34%.
Some other notable price increases during this period included bananas (4.93%), pulse gram (3.69%), potatoes (2.62%), chicken (1.84%), georgette fabric (1.57%), gur (1.45%), pulse mash (1.07%), lawn fabric (0.66%), cigarettes (0.41%), and energy savers (0.38%).
However, there were also price decreases observed for certain items. These decreases included bread (3.02%), garlic (2.00%), petrol (1.74%), pulse masoor (1.43%), diesel (1.42%), rice basmati broken (1.32%), chilies powder (1.31%), eggs (0.94%), wheat flour (0.77%), and mustard oil (0.46%).
Out of the 51 items monitored by the PBS, 19 (37.26%) items experienced price increases, 14 (27.45%) items saw price decreases, and 18 (35.29%) items remained stable.
When comparing the SPI to the same week last year, there was a significant year-on-year increase of 21.69%. This increase was primarily influenced by a 570% increase in gas charges for Q1 and substantial price hikes in onions (100.37%), chilies powder (57.89%), garlic (43.40%), and tomatoes (36.23%).
Some other items that experienced notable year-on-year price increases included salt powder (31.30%), shirting fabric (30.52%), gents sandals (25.01%), pulse mash (25.00%), beef (21.86%), energy savers (20.53%), and sugar (19.85%).
However, there were also items that recorded price decreases over the year. These items included chicken (29.00%), wheat flour (28.35%), bananas (25.69%), cooking oil 5 litre (17.05%), vegetable ghee 2.5 kg (15.12%), vegetable ghee 1 kg (14.19%), mustard oil (9.73%), eggs (8.73%), and LPG (5.47%).
The SPI, based on the 2015-16 index year, covers 17 urban centres and 51 essential items for all expenditure groups and combined. It provides a comprehensive snapshot of the weekly price changes affecting consumers in Pakistan.
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