Weekly inflation increases by 1.30% according to PBS
Published on: June 15, 2024.
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Weekly Inflation in Pakistan Sees 1.30% Increase in Consumption Prices
The Pakistan Bureau of Statistics (PBS) has reported that the weekly inflation, measured by the Sensitive Price Indicator (SPI), increased by 1.30 percent for the combined consumption groups during the week ended on June 13. The SPI for this week was recorded at 313.93 points, compared to the previous week’s 309.91 points. In comparison to the same week last year, the SPI for the combined consumption group witnessed a significant increase of 23.03 percent.
The SPI, which has a base year of 2015-16, covers 17 urban centers and 51 essential items across all expenditure groups. The SPI for the lowest consumption group, up to Rs17,732, increased by 1.01 percent, reaching 304.28 points from the previous week’s 301.25 points.
For the consumption groups of Rs17,732-22,888, Rs22,889-29,517, Rs29,518-44,175, and above Rs44,175, the SPI increased by 1.31 percent, 1.11 percent, 1.07 percent, and 1.29 percent, respectively. Out of the 51 items, 19 experienced price increases (37.26 percent), 8 items witnessed decreases (15.68 percent), and 24 items remained stable (47.06 percent).
Among the items that experienced a decrease in average prices on a week-on-week basis were onions (5.00 percent), chilies powder (1.95 percent), rice basmati broken (1.65 percent), garlic (1.32 percent), rice irri (1.08 percent), bread (0.52 percent), wheat flour (0.05 percent), and sugar (0.02 percent).
On the other hand, tomatoes (27.14 percent), chicken (11.75 percent), electricity for q1 (8.73 percent), pulse gram (7.19 percent), LPG (6.14 percent), eggs (3.70 percent), bananas (3.22 percent), beef (1.52 percent), pulse moong (1.07 percent), mutton (0.60 percent), cigarettes (0.47 percent), and energy saver (0.36 percent) witnessed an increase in their average prices on a week-on-week basis.
When comparing the figures on a year-on-year basis, wheat flour (29.65 percent), chicken (19.77 percent), bananas (19.26 percent), cooking oil 5 liters (16.69 percent), vegetable ghee 2.5 kg (14.81 percent), vegetable ghee 1 kg (13.01 percent), mustard oil (8.77 percent), and tea packet (2.52 percent) witnessed a decrease in their average prices.
On the other hand, gas charges for q1 (570.00 percent), onions (105.91 percent), tomatoes (72.60 percent), chilies powder (54.81 percent), garlic (39.90 percent), salt powder (30.56 percent), shirting (30.52 percent), gents sandal (25.01 percent), pulse mash (23.85 percent), beef (23.21 percent), and electricity charges for q1 and pulse gram (21.46 percent each) witnessed an increase in their average prices on a year-on-year basis.
This recent increase in inflation has important implications for various sectors of the Pakistani economy, particularly for rice exporters, rice suppliers, and rice mills in Pakistan. The fluctuations in prices, particularly for rice, impact the profitability and competitiveness of Pakistan’s rice business. Rice exporters from Pakistan, including Pakistan Rice Company and Has Rice, may have to adjust their pricing strategies in order to remain competitive in international markets. Understanding the dynamics of the fluctuating rice prices, such as the prices of irri 6 rice and basmati rice, is essential for these rice exporters. For detailed information regarding rice prices in Pakistan and the operations of rice exporters and rice suppliers in Pakistan, visit websites such as hasrice.com and pakistanrice.com.
In conclusion, the weekly inflation in Pakistan has seen a rise of 1.30 percent in consumption prices. This increase has various implications for different sectors, with rice exporters and rice suppliers being directly affected. It is crucial for these businesses to stay informed about the changing prices and market conditions.
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