The prices of essential commodities have risen for the third consecutive week this month, signaling high headline inflation for April 2019. According to data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) has consistently increased in the weeks ending April 4, 11, and 18, reflecting a challenging trend for consumers.
The SPI, which tracks the prices of 53 essential items across 17 urban centers, reported a rise of 0.81 percent, 0.30 percent, and 0.39 percent for the respective weeks. This steady increase underscores the upward pressure on inflation, driven by the growing costs of food and other necessary goods.
For the week ending on April 18, SPI inflation rose by 0.39 percent compared to the previous week (April 11), and by a significant 12.42 percent when compared to the same period last year. The continuous increase in prices poses difficulties for households, particularly those in lower-income brackets who are most affected by food price inflation.
The latest weekly SPI data shows that the prices of 25 essential items surged, including basic foodstuffs like onions, farm chicken, garlic, cooked beef, hen eggs, and mash pulses. These items are critical to household consumption and any fluctuation in their prices directly impacts daily expenses for millions of Pakistanis.
On the other hand, the prices of six essential items showed some relief during the same period. Items that registered a decrease in prices included tomatoes, potatoes, wheat, LPG cylinders, and a few other staple commodities. This reduction offers some respite, but the overall inflationary pressure remains high.
Additionally, the prices of 22 essential goods remained unchanged, suggesting some stability in certain segments of the market. However, with the prices of key commodities like vegetables, poultry, and pulses on the rise, the overall burden on consumers continues to grow.
The SPI is an important tool for tracking price changes and inflation in Pakistan. It is calculated with a base year of 2007-08 and is used to assess the weekly cost changes across different income groups. The current trend of rising prices reflects the broader economic challenges the country is facing, as inflation continues to eat into household incomes.
With inflationary pressures showing no sign of abating, the government and policymakers will need to closely monitor these trends and consider interventions to provide relief to vulnerable groups affected by the persistent rise in essential item prices.