Short-term inflation rises by 0.96% after two weeks of decline

The Weekly Sensitive Price Indicator (SPI) for the Combined Group jumped by 0.96% week-on-week as of April 04, 2024, and increased by 29.45% year-on-year. This follows two consecutive weeks of declines.

According to the latest data released by the Pakistan Bureau of Statistics (PBS), of the 51 monitored items, prices for 16 items (31.37%) increased, 13 items (25.49%) decreased, and 22 items (43.14%) stayed unchanged.

PBS data shows that the Combined Index reached 326.29, up from 323.20 the previous week and higher than 252.06 a year earlier.

The weekly SPI change showed an upward trend for all income groups, with increases ranging from 0.83% to 1.02%. The lowest income group saw a 0.83% rise, whereas the highest income group experienced a 1.02% increase.

On week-over-week (WoW), price increases were seen in petrol (3.45%), chicken (2.99%), tomatoes (11.93%), gents sandal (8.70%), ladies sandal (12.52%), long cloth (2.23%), onion (1.30%), bread (1.03%), beef (0.75%), garlic (0.70%), mutton (0.41%) and rice
basmati broken (0.14%).

Conversely, a weekly price decrease was observed in LPG (1.89% each), diesel (1.18%), bananas (3.57%), wheat flour (2.68%), eggs, gur (0.63%), sugar (0.41%), mustard oil (0.26%), pulse masoor (0.25%) and potatoes (0.23%). 

On a year-on-year basis, the SPI rose across all income segments, with increases between 22.04% and 33.30%. The Lowest Income Group's yearly SPI went up by 22.04%, and the highest income group saw a 26.81% rise.

There was a year-on-year increase in the prices of gas for the first quarter by (570.00%), onions (107.59%), chilies powder (86.05%), gents sandal (66.71%), gents sponge chappal (58.05%), garlic (53.51%), tomatoes (35.77%), gur (34.00%), salt powder (32.78%), energy saver (29.83%), pulse mash (26.98%) and tea prepared (23.34%).

While a YoY decrease was observed in the prices of bananas (26.68%), cooking oil 5 Litre (20.53%), vegetable ghee 1 Kg (17.61%), vegetable ghee 2.5 Kg (17.28%), mustard oil (14.22%), wheat flour (5.86%), diesel (3.61%), and cigarettes (0.06%).

The average price of Sona urea per 50 kg bag decreased slightly by 0.15% from the previous week to Rs4,821 but was 64.58% higher than the previous year. 

The average price of cement per 50 kg bag remained steady week-on-week at Rs1,220, marking an 8.36% increase from last year.