SPI-based weekly inflation soars 42.60pc YoY

ISLAMABAD: The Sensitive Price Index-based inflation for the week ended 21st December 2023, increased by 42.60 percent on a year-on-year basis, mainly due to an increase in the prices of gas charges (1,108.59 per cent), wheat flour (78.80 per cent), and sugar (50.33 per cent), the Pakistan Bureau of Statistics (PBS) said.

The SPI for the week ended on 21st December 2023 decreased by 0.51 per cent due to decline in the prices of potatoes (13.17 per cent), petrol super (4.97 per cent), diesel (4.68 per cent), tomatoes (3.45 per cent), sugar (1.16 per cent), wheat flour bag (0.33 per cent), chicken (0.13 per cent, rice basmati broken (0.11 per cent) and cooking oil 5 litre (0.07 per cent).

The year-on-year trend depicts an increase of 42.60 per cent mainly due to an increase in the prices of gas charges for q1 (1108.59 per cent), cigarettes (93.22 per cent), chilies powder (81.74 per cent), wheat flour (78.80 per cent), garlic (72.48 per cent), rice basmati broken (62.52 per cent), rice irri-6/9 (59.45 per cent), gents sponge chappal (58.05 per cent), tomatoes (56.89 per cent), gents sandal (53.37 per cent), sugar (50.33 per cent) and gur (49.86 per cent), while a decrease is observed in the prices of onions (23.92 per cent), mustard oil (4.24 per cent), vegetable ghee 1kg (1.59 per cent), vegetable ghee 2.5 kg (0.62 per cent) and bananas (0.06 per cent).

SPI-based weekly inflation soars 42.60pc YoY

During the week, out of 51 items, prices of 18 (35.29 per cent) items increased, nine (17.65 per cent) items decreased and 24 (47.06 per cent) items remained stable.

The SPI for the week under review was recorded at 310 points against 311.58 points registered in the previous week, according to the PBS data released on Friday.

The SPI for the consumption group up to Rs17,732 and Rs17,732-Rs22,888, Rs22,889–Rs29,517,Rs29,518-Rs44,175 and above Rs44,175 decreased by 0.39 per cent, 0.40 per cent, 0.39 per cent, 0.44 per cent, and 0.59 per cent respectively.

The items prices of which increased during the period review include eggs (10.42 per cent), firewood whole 40kg (1.23 per cent), onions (1.19 per cent), moong (0.88 per cent), pulse gram (0.79 per cent), maash (0.73 per cent), garlic (0.40 per cent), rice irri-6/9 (0.40 per cent), masoor (0.30 per cent), LPG (0.26 per cent), bananas (0.19 per cent), cooked beef (0.17 per cent), shirting (0.15 per cent),Georgette (0.13 per cent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.12 per cent), powdered milk Nido390 gm polybag each (0.10 per cent), mustard oil (0.08 per cent), and tea prepared (0.02 per cent).

The items prices of which decreased during the period under review include potatoes (13.17 per cent), petrol super (4.97 per cent),hi-speed diesel (4.68 per cent), tomatoes (3.45 per cent), sugar (1.16 per cent), wheat flour bag 20 kg (0.33 per cent), chicken (0.13 per cent), rice basmati broken (0.11 per cent) and cooking oil Dalda or other similar brand (sn), 5 litre tin each (0.07 per cent).

Copyright Business Recorder, 2023