The latest data from the Pakistan Bureau of Statistics (PBS) reveals a slight increase in the Weekly Sensitive Price Indicator (SPI) for the Combined Group, which rose by 0.11% week-on-week (WoW) during the week ending May 30, 2024. Year-on-year (YoY), the SPI has surged by a significant 21.4%, underscoring the ongoing inflationary pressures in the country.
Weekly and Yearly SPI Trends
The Combined Index, a critical measure of price changes, stood at 308.52, up from 308.19 the previous week. This is a marked increase from the 254.13 recorded in the same period last year. The persistent rise in SPI reflects broader economic challenges, including supply chain disruptions and fluctuating commodity prices.
Price Changes in Key Commodities
The SPI monitors the prices of 51 essential items. During the week under review:
- Prices of 14 items (27.45%) increased.
- Prices of 14 items (27.45%) decreased.
- Prices of 23 items (45.10%) remained stable.
Significant price increases were observed in:
- Tomatoes: 11.25%
- Onions: 3.62%
- Pulse Mash: 2.00%
- Bananas: 1.78%
- Potatoes: 1.23%
Conversely, notable price decreases included:
- Eggs: 6.14%
- Chilies Powder: 5.73%
- LPG: 5.40%
- Garlic: 4.02%
- Rice IRRI: 2.93%
Impact on Different Income Groups
The SPI change varied across different income groups:
- Lowest income group experienced a weekly rise of 0.09%.
- Highest income group experienced a rise of 0.08%.
Yearly SPI changes for different income segments ranged between 14.68% and 24.67%, indicating that inflation impacts all income groups, albeit differently:
- Lowest income group saw a 14.68% increase.
- Highest income group recorded a 19.24% increase.
Specific Commodity Prices
- Sona Urea: The average price was Rs4,796 per 50 kg bag, which is 0.16% lower than the previous week but 55.19% higher than last year.
- Cement: The average price was Rs1,237 per 50 kg bag, a 0.30% increase from the previous week and a 9.80% increase compared to last year.
These changes reflect the broader trends in Pakistan’s economy, where essential commodities continue to fluctuate in price, impacting household budgets and economic stability.
