ISLAMABAD: The Sensitive Price Indicator (SPI) for the current week ended on August 22, 2024 decreased by 0.10per cent, according to Pakistan Bureau of Statistics (PBS).

The SPI released by the PBS on Friday noted that a major decrease was observed in the prices of tomatoes (21.96 per cent), wheat flour (2.77per cent), bananas (2.08 per cent), onions (1.70 per cent), sugar (1.43 per cent), chicken (1.25 per cent), masoor (1.00 per cent), and bread (0.61 per cent).

On the other hand, increase is observed in the prices of eggs (6.10 per cent), pulse gram (6.05per cent), potatoes (2.41per cent), cooked daal (0.89per cent), cooked beef (0.74per cent), mustard oil (0.63per cent), beef (0.47per cent), shirting (0.43per cent), milk fresh (0.39per cent), and LPG (0.16per cent).

Weekly SPI inflation down 0.16pc

During the week, out of 51 items, prices of 21 (41.18per cent) items increased, nine (17.64 increased) items decreased and 21 (41.18per cent) items remained stable.

The year-on-year trend depicts increase of 16.69per cent, gas charges for quarter one (Q1) (570per cent), onions (79.51per cent), pulse gram (51.34per cent), tomatoes (28.10per cent), powered milk (26.14per cent), gents sandal (25.01per cent), beef (23.89per cent), moong (23.88per cent), shirting (23.61per cent), garlic (22.84per cent), salt powder (21.36per cent), and Georgette (15.18per cent).

While a major decrease is observed in the prices of wheat flour (36.12per cent), chilies powder (17.78per cent), electricity charges for Q1 (16.91per cent), cooking oil 5-litre (10.50per cent), petrol (10.07per cent), sugar (9.62per cent), diesel (9.22per cent), rice basmati broken (8.88per cent), vegetable ghee 2.5kg (7.63per cent), vegetable ghee 1kg (6.51per cent), and mustard oil (4.00per cent).

To gauge inflation on weekly/short term basis, the SPI is computed on a weekly basis to assess the price movement of essential commodities at shorter interval of time so as to review the price situation in the country.

The SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.

According to the PBS, for the week ended on August 22, 2024, the SPI and percentage changes by consumption groups/quintiles was recorded Q1 (up to Rs17,732) -0.24 per cent Q2 (Rs17,733 - 22,888) by -0.2 per cent, Q3 (Rs22,889 - 29,517) -0.15 per cent, Q4 (Rs29,518 - 44,175) -0.12 per cent and Q5 (above Rs44,175) -0.5 per cent.

Copyright Business Recorder, 2024