The Sensitive Price Indicator (SPI) for the week ending on September 26, 2024, registered a slight increase of 0.05%, according to data released by the Pakistan Bureau of Statistics (PBS).Â
The indicator, which tracks the prices of 51 essential items across 50 markets in 17 cities, showed significant fluctuations in food and non-food items, contributing to the overall inflationary pressure.
Prices of key food items increased during the week. The price of tomatoes surged by 5.78%, onions increased by 5.49%, while pulse gram rose by 1.01%. Other food items such as potatoes and gur also witnessed hikes of 0.94% and 0.82%, respectively. Among non-food items, LPG prices climbed by 0.15%, continuing the upward pressure on household energy costs.
However, there were notable decreases in some food items, with pulse mash showing a significant drop of -1.80%, followed by pulse moong (-1.35%) and sugar (-1.30%). Wheat flour prices fell by 0.66%, providing slight relief amid overall rising food costs. Non-food items such as cooking oil (5 liters) also registered a marginal decline of 0.18%.
During the week, out of 51 items, 16 items (31.37%) showed price increases, 9 items (17.65%) witnessed price decreases, and 26 items (50.98%) remained stable.
The year-on-year (YoY) trend indicated an increase of 12.80%, marking inflationary pressures over the past year. The most significant price hikes were observed in gas charges for Q1, which spiked by an alarming 570.00%. Pulse gram prices also soared by 60.21%, followed by onions (51.72%) and tomatoes (34.34%). The cost of beef rose by 25.61%, while powdered milk** and shirting fabric saw increases of 25.41% and 20.17%, respectively.
Among non-food items, gas charges for Q1 and shirting fabric drove much of the inflationary pressure, with georgette fabric also showing an increase of 13.78%. Energy-related items such as energy-saving bulbs saw a rise of 12.87%.
On the other hand, there was a notable decrease in key items such as wheat flour, which saw a drop of 38.12%, followed by a decline in petrol prices by 24.73%, and diesel by 24.06%. Cooking oil (5 litres) also saw a year-on-year decrease of 10.87%, while basmati broken rice and pulse masoor prices fell by 9.86% and 8.63%, respectively.
