Weekly Inflation in Pakistan Soars by 29.9%
Published on: November 3, 2023.
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Weekly Inflation Sees Slight Increase in Pakistan
The Sensitive Price Indicator (SPI) has shown a slight uptick of 0.71% for the week ending November 3, 2023, compared to the previous week, according to data released by the Pakistan Bureau of Statistics (PBS). This increase brings the combined index to 279.08, up from 277.11 on October 26, 2023. In comparison, the index was recorded at 214.88 a year ago, on November 3, 2022.
Out of a total of 51 items, the average price of 12 items increased, 14 items decreased, and 25 items remained stable during this period. Notably, the prices of Tomatoes and Onions saw a significant increase of 25.58% and 25.25% respectively. Other items that experienced an increase in prices include Chicken (10.79%), Potatoes (1.61%), Tea Lipton (1.58%), Eggs (1.30%), Garlic (0.50%), Rice Basmati Broken (0.19%), Georgette (0.28%), and Firewood (0.05%).
Conversely, a few items witnessed a decrease in prices. The prices of Gur saw a major decrease of 2.66%, followed by a decrease in the prices of Banana (1.78%), Cooking Oil 5 Litre (1.62%), Vegetable Ghee 1 KG (1.23%), LPG Cylinder (1.05%), Pulse Masoor (0.93%), Wheat Flour (0.62%), Washing Soap (0.41%), and Mustard Oil (0.32%).
When analyzing the weekly SPI percentage change by income groups, it was observed that SPI increased across all quantiles, ranging between 0.64% and 0.86%.
Overall, the slight increase in inflation highlights the fluctuating prices of essential commodities in the market. It is important for consumers to stay informed about these changes and plan their expenses accordingly.
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