Weekly inflation
ISLAMABAD: The weekly inflation under the Sensitive Price Indicator (SPI) for the Combined Group showed a 0.93% increase week-on-week (WoW) for the week ending on September 21, 2023. In a year-on-year (YoY) comparison to the same period last year, the SPI surged by 38.66%.
The Pakistan Bureau of Statistics (PBS) revealed this in its latest data released on Friday.
The latest weekly inflation trend negates the finance minister’s claim that the inflation is declining in Pakistan. In fact, surge in inflation is an outcome of frequent hikes in the cost of utilities in the country.
The PBS data showed the Combined Index at 281.77 on September 21, 2023, compared to 279 on September 14, 2023. One year ago, on September 22, 2022, the index was recorded at 203.21.
Among the 51 items tracked, the average prices of 22 items increased, 11 items decreased, and 18 items remained stable.
The weekly inflation percentage change in SPI across income groups indicated that SPI increased across all quantiles, ranging from 0.05% to 1.27%.
The Lowest Income Group experienced a 0.05% weekly increase, while the highest income group recorded a 1.27% increase.
On a yearly basis, the analysis of SPI changes across different income segments showed that SPI increased across all quantiles, ranging from 34.28% to 41%.
The Yearly SPI for the Lowest Income Group increased by 38.27%, while the highest income group recorded an increase of 34.28%.
The average price of Sona urea was Rs3,774 per 50 kg bag, marking a 2.3% decrease compared to the previous week’s price but a substantial 56.01% increase when compared to prices from the previous year.
Meanwhile, the average Cement price was recorded at Rs1,194 per 50 kg bag, representing a minor 0.01% increase compared to the previous week and a 15.17% increase in comparison to prices from the previous year.
