Islamabad, November 15, 2024 – The Sensitive Price Indicator (SPI), which measures weekly inflation, recorded an increase of 0.55% for the week ending November 14, 2024, according to the Pakistan Bureau of Statistics (PBS). The rise reflects notable price hikes in essential commodities, impacting households across the country.
The PBS data revealed significant increases in the prices of tomatoes (16.86%), eggs (5.01%), garlic (4.30%), liquefied petroleum gas (LPG) (4.10%), and firewood (2.07%). Other commodities witnessing price hikes include mustard oil (1.90%), vegetable ghee (1.87%), sugar (1.34%), and potatoes (1.26%). Prices for cooked beef, georgette fabric, and shirting also rose by 1.11%, 1.18%, and 0.12%, respectively.
Conversely, some relief was observed in the prices of pulse gram (-2.51%), pulse mash (-0.87%), bananas (-0.18%), chicken (-0.07%), and wheat flour (-0.01%). Despite these decreases, the overall inflationary trend persists, with 24 out of 51 monitored items (47.06%) reporting price increases, while prices of 21 items (41.18%) remained stable. Only six items (11.76%) saw price declines during the week.
On a year-on-year basis, the SPI inflation climbed by 4.16%. Significant annual increases were noted in essential items such as pulse gram (74.53%), pulse moong (38.88%), powdered milk (25.74%), beef (23.02%), and onions (22.78%). Other notable contributors to inflation included garlic (17.41%), gas charges for Q1 (15.52%), and clothing items like shirting (15.22%) and georgette fabric (13.07%).
However, annual declines were observed in wheat flour (-34.98%), chilies powder (-20.00%), diesel (-13.92%), petrol (-11.64%), and cooking oil (-4.86%). Staple items such as rice basmati broken (-7.89%), tea (-11.22%), and electricity charges (-5.07%) also became relatively cheaper compared to the previous year.
This week’s SPI inflation highlights the growing financial strain on Pakistani households due to fluctuating commodity prices. Analysts attribute the inflationary pressure to supply chain disruptions, seasonal demand for certain items, and global commodity price trends.
The PBS’s weekly SPI serves as a critical indicator of the cost of living for low- and middle-income households. Policymakers are expected to focus on stabilizing prices and ensuring affordable access to essential goods as inflationary pressures persist.
