Short-term inflation in the country rose as the Sensitive Price Indicator (SPI) for the week ending on June 13, 2024, increased by 1.30% week-over-week (WoW) and by 23.03% year-on-year (YoY).
According to the data released by the Pakistan Bureau of Statistics (PBS), the major increase was observed in the prices of Tomatoes (27.14%), Chicken (11.75%), Electricity for Q1 (8.73%), Pulse Gram (7.19%), LPG (6.14%), Eggs (3.70%), Bananas (3.22%), Beef (1.52%), Pulse Moong (1.07%), Mutton (0.60%), Cigarettes (0.47%) and Energy Saver (0.36%).
On the other hand, a decrease was observed in the prices of Onions (5.00%), Chilies Powder (1.95%), Rice Basmati Broken (1.65%), Garlic (1.32%), Rice IRRI (1.08%), Bread (0.52%), Wheat Flour (0.05%) and Sugar (0.02%).
During the week under review, out of 51 items, prices of 19 (37.26%) items increased, 08 (15.68%) items decreased and 24 (47.06%) items remained stable.
The SPI increased by 23.03% YoY as the prices of Gas for Q1 increased by (570.00%), Onions (105.91%), Tomatoes (72.60%), Chilies Powder (54.81%), Garlic (39.90%), Salt Powder (30.56%), Shirting (30.52%), Gents Sandal (25.01%), Pulse Mash (23.85%), Beef (23.21%), Electricity Charges for Q1 and Pulse Gram (21.46%) each.
While major decrease was observed in the prices of Wheat Flour (29.65%), Chicken (19.77%), Bananas (19.26%), Cooking Oil 5 Litre (16.69%), Vegetable Ghee 2.5 Kg (14.81%), Vegetable Ghee 1 Kg (13.01%), Mustard Oil (8.77%) and Tea Lipton (2.52%).
The SPI is computed on a weekly basis to assess the price movement of essential commodities at shorter intervals of time to review the price situation in the country. SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.
