Pakistan’s Weekly Inflation Ascends by 0.94%
Published on: June 21, 2024.
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Weekly Inflation in Pakistan Sees 0.94% Increase
The Pakistan Bureau of Statistics (PBS) has reported an increase of 0.94% in the weekly inflation measured by the Sensitive Price Indicator (SPI) for the combined consumption groups during the week ended on June 20.
According to the PBS data, the SPI for the week under review in the mentioned group was recorded at 316.88 points, up from 313.93 points the previous week. This marks an increase of 23.78% compared to the corresponding week of last year.
Covering 17 urban centers and 51 essential items for all expenditure groups, the weekly SPI with the base year 2015-16 =100 provides insights into inflation trends.
The lowest consumption group, with an expenditure of up to Rs 17,732, saw an increase of 1.58% in the SPI, reaching 309.10 points compared to 304.28 points in the previous week.
For the consumption groups with expenditures ranging from Rs 17,732 to Rs 22,888, Rs 22,889 to Rs 29,517, Rs 29,518 to Rs 44,175, and above Rs 44,175, the SPI increased by 1.44%, 1.20%, 1.11%, and 0.69% respectively.
Among the 51 items, 25 saw an increase in prices, 5 experienced a decrease, and 21 remained stable during the week. Notably, the average prices of petrol (3.76%), diesel (0.84%), rice basmati broken (0.08%), pulse masoor (0.08%), and chicken (0.05%) decreased on a week-on-week basis.
On the other hand, tomatoes (65.84%), potatoes (5.61%), onions (3.78%), bananas (3.29%), LPG (2.44%), cigarettes (1.67%), pulse moong (1.53%), garlic (1.29%), milk fresh (0.95%), eggs (0.83%), georgette (0.28%), and shirting (0.17%) witnessed an increase in their average prices.
On a year-on-year basis, several commodities saw a decrease in prices, including wheat flour (32.90%), chicken (20.60%), cooking oil 5 liter (16.17%), vegetable ghee 2.5 kg (13.39%), vegetable ghee 1 kg (12.42%), bananas (11.69%), mustard oil (8.24%), tea packet (2.52%), and petrol (1.38%).
In contrast, gas charges for q1 (570.00%), tomatoes (191.00%), onions (122.66%), chilies powder (54.81%), garlic (40.55%), shirting (30.75%), salt powder (29.49%), gents sandal (25.01%), pulse gram (22.67%), pulse mash (22.60%), beef (22.12%), and electricity charges for Q1 (21.46%) experienced an increase in their average prices on a year-on-year basis.
It is important for consumers and businesses to stay informed about inflation trends to make informed decisions.
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