HomeBusinessWeekly SPI sees 1.3% increase as yearly inflation hits 23.03%

Weekly SPI sees 1.3% increase as yearly inflation hits 23.03%

The Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a 1.3 percent week-over-week increase during the week ending June 13, 2024, according to data released by the Pakistan Bureau of Statistics (PBS).

The SPI also showed a significant year-over-year rise of 23.03 percent compared to the same period last year.

The Combined Index reached 313.93, up from 309.91 the previous week, and significantly higher than the 255.17 recorded a year ago.

During the week, out of 51 monitored items, prices of 19 items (37.26 percent) increased, 8 items (15.68 percent) decreased, and 24 items (47.06 percent) remained stable.

Significant price increases were observed in tomatoes (27.14 percent), chicken (11.75 percent), electricity for Q1 (8.73 percent), pulse gram (7.19 percent), and LPG (6.14 percent). Conversely, notable price decreases were recorded in onions (5.00 percent), chilies powder (1.95 percent), rice basmati broken (1.65 percent), garlic (1.32 percent), and rice IRRI (1.08 percent).

The SPI percentage change by income groups indicated increases across all quantiles, ranging from 1.01 percent to 1.31 percent on a weekly basis. The lowest income group experienced a rise of 1.01 percent, while the highest income group saw an increase of 1.29 percent.

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Yearly analysis of SPI changes across different income segments showed increases ranging between 16.29 percent and 26.07 percent. These statistics highlight the varying impact of price changes on different income groups, reflecting broader economic trends and inflationary pressures within the country.



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