The Sensitive Price Indicator (SPI) recorded a 0.38% increase in short-term inflation for the week ending December 19, 2024, according to data released by the Pakistan Bureau of Statistics (PBS). On a year-on-year basis, the SPI rose by 4.64%, underscoring persistent inflationary pressures in the economy.
Out of 51 essential items tracked, prices for 15 items (29.41%) increased, 13 items (25.49%) decreased, and 23 items (45.10%) remained stable during the week.
Key price hikes were observed in tomatoes (Up by 56.66%), firewood (1.57%), garlic (1.40%), vegetable Ghee (0.95%) and cooking Oil (0.79%).
Conversely, significant weekly price drops included onions (-4.16%), potatoes: (-3.83%), eggs (-2.72% and diesel (-1.17%).
Over the past year, inflation was driven by sharp increases in tomatoes (up by 95.54%), ladies Sandals (75.09%), pulse gram (56.75%)
Meanwhile, prices of some essential commodities decreased, including wheat Flour (-36.15%), chilies powder (-20.00%) and onions which were down by 13.74%.
The lowest income group saw a 0.68% weekly rise in inflation, compared to a 0.30% increase for the highest income group. Annually, inflation across income segments ranged between 4.53% and 4.83%, with the lowest income group experiencing a 4.79% increase.
The average price of Sona urea rose to Rs4,558 per 50 kg bag, up 0.36% from last week and 1.44% compared to last year. While the cement prices decreased by 0.24% from the previous week to Rs1,412 per 50 kg bag but remained 14.31% higher than a year ago.
PBS calculates the SPI weekly, monitoring 51 essential items from 50 markets in 17 cities to provide timely insights into price movements and inflationary trends. These figures reflect the persistent volatility in the cost of essential goods, impacting consumers across all income levels.
