Pakistan’s short-term inflation, as measured by the Sensitive Price Indicator (SPI), saw a marginal increase of 0.05% for the week ending September 26, 2024, according to data released by the Pakistan Bureau of Statistics (PBS). On an annual basis, inflation surged by 12.8%, reflecting the ongoing pressures on essential commodity prices in the country.
SPI MONITORS 51 ESSENTIAL ITEMS ACROSS THE COUNTRY
The Sensitive Price Indicator (SPI) is calculated weekly by tracking the prices of 51 essential items collected from 50 markets in 17 cities across Pakistan. During the week, the prices of 16 items (31.37%) increased, 9 items (17.65%) decreased, while 26 items (50.98%) remained stable, illustrating mixed trends in the cost of essential goods.
MAJOR PRICE INCREASES: TOMATOES AND ONIONS LEAD THE RISE
The most significant price hikes were observed in:
- Tomatoes: +5.78%
- Onions: +5.49%
- Pulse Gram: +1.01%
- Potatoes: +0.94%
- Gur: +0.82%
These increases in food items contributed to the weekly rise in the SPI, putting additional strain on household budgets, especially for lower-income groups.
PRICE DECREASES: SUGAR AND PULSE PRICES EASE SLIGHTLY
Conversely, the prices of some essentials saw declines, including:
- Pulse Mash: -1.80%
- Pulse Moong: -1.35%
- Sugar: -1.30%
- Bananas: -1.27%
- Pulse Masoor: -0.93%
- Wheat Flour: -0.66%
- Eggs: -0.28%
- Cooking Oil (5 Litre): -0.18%
The decrease in these commodity prices provided slight relief, but the overall trend remains concerning.
INFLATION IMPACTS ALL INCOME GROUPS
The weekly SPI percentage change showed inflation increases across all income groups, ranging from 0.04% to 0.08%. The lowest income group experienced a higher increase of 0.08%, while the highest income group saw a rise of 0.04%.
On a yearly basis, inflation remained widespread, with SPI rising between 9.2% and 16.18% across different income brackets. The lowest income group faced a 9.2% increase, while the highest income group recorded an increase of 11.09%.
