Islamabad, August 16, 2024 – Inflation in Pakistan, measured by the Sensitive Price Indicator (SPI), experienced a slight decline of 0.16% for the combined consumption groups during the week ending on August 15, according to the Pakistan Bureau of Statistics (PBS).
The SPI, which tracks weekly changes in the prices of essential goods, was recorded at 322.03 points, down from 322.54 points the previous week.
Despite this weekly decline, the SPI for the combined consumption group showed a significant year-on-year increase of 16.86% compared to the same week last year. The SPI, with a base year of 2015-16 = 100, covers 17 urban centers and 51 essential items across all expenditure groups.
While the overall SPI showed a decrease, the impact varied across different consumption groups. The lowest consumption group, with monthly expenditures up to Rs 17,732, saw a marginal increase of 0.07%, with the SPI rising to 311.04 points from last week’s 310.83 points. Conversely, higher consumption groups experienced a slight decrease in their SPI values. For the group with expenditures between Rs 17,732-22,888, the SPI edged up by 0.01%. In contrast, consumption groups with expenditures between Rs 22,889-29,517, Rs 29,518-44,175, and above Rs 44,175, saw their SPI decline by 0.05%, 0.10%, and 0.25% respectively.
Out of the 51 items monitored, the prices of 19 items (37.25%) increased, 13 items (25.50%) decreased, and 19 items (37.25%) remained unchanged during the week. Notable decreases were observed in the prices of onions (down 4.91%), petrol (down 3.15%), diesel (down 2.44%), wheat flour (down 1.83%), and pulse moong (down 1.81%). On the other hand, significant price hikes were recorded for tomatoes (up 34.77%), eggs (up 4.78%), and garlic (up 1.99%).
On a year-on-year basis, certain commodities saw notable price decreases, including wheat flour (down 34.46%), chili powder (down 17.78%), and cooking oil (down 11.10%). However, other items experienced substantial price increases, such as gas charges for Q1 (up 570.00%), onions (up 125.64%), and pulse gram (up 42.00%).
The mixed trends in essential commodity prices highlight the volatile nature of inflation in Pakistan, with certain groups bearing the brunt of rising costs while others benefit from slight relief.
