In the latest update from the Pakistan Bureau of Statistics (PBS) for the week ending on March 21, 2024, the Sensitive Price Indicator (SPI) for the Combined Group has seen a downturn of 1.13% on a week-over-week basis.
This shift comes in contrast to the annual figure, where the SPI has surged by 29.06% compared to the same period in the previous year.
The Combined Index was noted at 323.50, marking a decrease from the prior week’s 327.21, yet showing a significant climb from 250.66 recorded a year ago.
The review encompassed 51 items, with findings indicating that prices for 9 items (17.65%) advanced, 17 items (33.33%) experienced a decline, and 25 items (49.02%) remained unchanged.
Significant reductions were seen in the prices of several essential commodities, including tomatoes (36.73%), onions (19.58%), potatoes (4.02%), garlic (2.87%), and pulse mash (1.25%).
Conversely, price hikes were observed in LPG (1.49%), shirting fabric (0.74%), beef (0.53%), broken basmati rice (0.48%), and mutton (0.42%).
The SPI’s weekly performance varied across different income groups, with reductions ranging from 0.91% to 1.83%.
The most considerable decrease of 1.83% was recorded in the lowest income segment, while the highest income group saw a smaller reduction of 0.91%.
An annual analysis revealed that SPI inflation impacted all income brackets, showing increases between 21.96% and 33.23%.
The lowest income group faced a yearly rise of 21.96%, whereas the highest income group encountered a 26.2% increase.
Additionally, the report highlighted fluctuations in the prices of other essential goods.
The average price for a 50 kg bag of Sona urea fertilizer was Rs4,829, showing a 1.33% decrease from the previous week but a significant 67.88% increase on a year-over-year basis.
Cement prices were also noted, with a 50 kg bag costing Rs1,221, marking a 0.48% week-over-week decline and an 8.54% increase compared to last year.
