ISLAMABAD: The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.34% for the week ending May 23, 2024, according to the Pakistan Bureau of Statistics (PBS).
Year-on-Year Increase
Despite the weekly decline, the SPI shows a significant year-on-year increase of 21.31% compared to the same period last year. The combined index stood at 308.19 points, down from 309.25 points the previous week. A year ago, the index was at 254.05 points.
Price Changes in Monitored Items
Among the 51 items monitored, prices of 12 items (23.53%) increased, 18 items (35.29%) decreased, and 21 items (41.18%) remained unchanged. Notable price decreases included garlic (7.87%), chicken (5.92%), wheat flour (4.66%), LPG (3.23%), and onions (1.99%).
Conversely, beef (0.49%), energy savers (0.44%), pulse gramme (0.42%), milk powder (0.37%), and prepared tea (0.30%) saw notable price increases.
Income Group Analysis
The SPI percentage change across different income groups showed a uniform decrease ranging from -0.33% to -0.39%. The lowest-income group experienced a fall of 0.38%, while the highest-income group saw a reduction of 0.33%.
On an annual basis, the SPI increased across all income segments, with changes ranging between 14.49% and 24.62%. The SPI for the lowest income group rose by 14.49%, while the highest income group saw an increase of 19.2%.
Commodity Prices
The average price of Sona urea was Rs4,803 per 50 kg bag, a decrease of 0.73% from the previous week but a substantial increase of 55.31% compared to last year.
The average price of cement was Rs1,233 per 50 kg bag, marking a 1.91% increase from the previous week and a 10.07% rise from last year.
Persistent Inflationary Pressures
This data underscores the persistent inflationary pressures on essential commodities in Pakistan, despite the minor weekly relief observed.
