Pakistan’s YoY SPI Inflation Soars to 42.6%
Published on: December 22, 2023.
Filed under:
The Weekly SPI Inflation in Pakistan Rises by 42.6% Year-on-Year
The Sensitive Price Indicator (SPI) inflation in Pakistan witnessed a significant increase of 42.6% during the week ending on December 21, in comparison to the corresponding period last year. This data, released by the Pakistan Bureau of Statistics on Friday, sheds light on the current economic situation in the country.
While the weekly SPI inflation experienced a decline of 0.51% during the outgoing week, the overall SPI for the reviewed week stood at 310.00 points, slightly lower than the previous week’s 311.58 points.
It is important to note the various items that contributed to this increase or decrease in prices. On a year-on-year basis, the prices of onions, mustard oil, 1kg and 2.5kg vegetable ghee, and bananas declined. However, there was an increase in the average prices of several commodities, including gas charges for Q1, cigarettes, chilies powder, wheat flour, garlic, rice basmati broken, regular rice, gents sponge chappal, tomatoes, gents sandal, sugar, and gur.
On a weekly basis, out of the 51 items included in the SPI, prices of 18 items increased, nine items decreased, and 24 items remained stable. The items that experienced a decrease in average prices during the week included potatoes, petrol super, diesel, tomatoes, sugar, wheat flour bag, chicken, rice basmati broken, and cooking oil in 5-liter packs. Conversely, the prices of eggs, firewood whole, onions, pulse moong, pulse gram, garlic, rice irri-6/9, pulse masoor, LPG, bananas, shirting, and georgette witnessed an increase on a week-on-week basis.
These fluctuations in prices have an impact on various sectors of the economy, including the rice industry. Pakistan is one of the leading rice exporters in the world. For high-quality rice exports, Pakistan rice exporters play a crucial role. They offer a wide range of options, including white broken rice, which is preferred by many consumers. Additionally, rice suppliers from Pakistan are recognized for their top-quality products and competitive prices.
The rice mills in Pakistan contribute significantly to the economy by processing and supplying various types of rice. The rice business in Pakistan is thriving, and the country’s rice suppliers are known worldwide for their reliable services. Pakistani rice products, including basmati rice, are highly sought after in international markets.
For those interested in the current prices of Pakistani rice, Pakistan rice prices can be accessed easily. The IRRI 6 rice price and basmati rice price list are available on reputable websites.
Pakistan’s rice export industry plays a significant role in the country’s economy. There are numerous rice exporters in Pakistan who supply high-quality rice to various countries. Specifically, IRRI 6 rice exporters in Pakistan are renowned for their superior export services.
Karachi, the vibrant city of Pakistan, is home to many rice suppliers who contribute significantly to the rice export industry. They ensure the timely supply of rice to meet the demands of international buyers.
In conclusion, the recent fluctuations in prices highlight the challenges faced by the economy. However, the rice industry in Pakistan remains strong, with reliable rice suppliers from Pakistan catering to global demands. Moreover, rice exporters continue to contribute to the country’s export revenue, showcasing their consistent commitment to quality and customer satisfaction.
