Pakistan’s Weekly Inflation Witnesses Surge
Published on: January 10, 2024.
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Weekly Inflation in Pakistan Sees an Increase
According to the Pakistan Bureau of Statistics (PBS), the weekly inflation in Pakistan, measured by the Sensitive Price Indicator (SPI), increased by 0.81 percent for all consumption groups in the week ending January 4. The SPI for the week was recorded at 313.66 points, compared to the previous week’s 311.14 points.
Compared to the same week of the previous year, the SPI for all consumption groups saw a significant increase of 42.86 percent.
The SPI, based on the year 2015-16 =100, includes 17 urban centers and covers 51 essential items across different expenditure groups.
Breaking down the data, the SPI for the lowest consumption group, with expenditures up to Rs 17,732, increased by 0.81 percent, reaching 308.53 points from last week’s 306.04 points.
For consumption groups with expenditures ranging from Rs 17,732-22,888; Rs 22,889-29,517; Rs 29,518-44,175; and above Rs 44,175, the SPI increased by 0.84 percent, 0.79 percent, 0.83 percent, and 0.80 percent respectively.
Out of the 51 items covered in the SPI, prices of 19 items (37.25%) increased, 09 items (17.65%) decreased, and 23 items (45.10%) remained stable.
Some of the items that saw a decrease in average prices on a week-on-week basis included potatoes (8.68%), Lipton tea (1.29%), garlic (0.68%), cooking oil (5-liter) and vegetable ghee (2.5 kg) (0.54% each), washing soap (0.47%), pulse mash (0.36%), wheat flour bag (0.23%), and vegetable ghee (1 kg) (0.08%).
On the other hand, items that recorded an increase in average prices on a week-on-week basis included tomatoes (16.04%), chicken (13.98%), eggs (3.20%), onions (3.04%), bananas (2.13%), pulse gram (2.12%), sugar (2.04%), pulse moong (1.68%), LPG (1.19%), firewood (0.51%), and georgette (0.23%).
When looking at the year-on-year basis, the items that witnessed a decrease in prices were onions (25.11%), mustard oil (4.40%), vegetable ghee (1 kg) (2.12%), bananas (1.05%), and vegetable ghee (2.5 kg) (0.95%).
Meanwhile, items that saw an increase in average prices on a year-on-year basis included gas charges for Q1 (1108.59%), tomatoes (94.05%), cigarettes (93.22%), chili powder (81.74%), garlic (67.88%), wheat flour bag (65.36%), chappal (58.05%), sugar (57.76%), rice irri-6/9 (54.52%), gents sandal (53.37%), rice basmati broken (51.45%), and gur (48.07%).
This increase in weekly inflation will have an impact on various sectors of the economy, including rice exporters, rice suppliers, and rice mills in Pakistan. To learn more about the rice industry in Pakistan and connect with rice exporters and suppliers, visit [HAS Rice](https://www.hasrice.com) and [Pakistan Rice](https://www.pakistanrice.com).
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