- Web Desk
- 10 Hours ago
Weekly inflation eases slightly as chicken prices decline 3 per cent
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- Web Desk
- Aug 30, 2024
ISLAMABAD: Pakistan’s short-term inflation has dropped for the third consecutive week, with a marginal decrease of 0.62 per cent week-over-week (WoW) during the week ending August 29, 2024.
However, the annual inflation rate remains elevated at 15.34 per cent.
The Pakistan Bureau of Statistics (PBS) monitors short-term inflation through the Sensitive Price Indicator (SPI), which tracks the price movements of essential commodities on a weekly basis. This indicator is vital for assessing the immediate price situation in the country
The SPI measures price changes across 51 essential items collected from 50 markets in 17 cities across Pakistan. During the reported week, prices of 17 items (33.33 per cent) increased, 10 items (19.61 per cent) decreased, while 24 items (47.06 per cent) remained stable.
| Item | Price up | Item | Price down |
| Tomatoes | 8.03 per cent | Chicken | -3.02 per cent |
| Onions | 6.53 per cent | Bananas | -2.35 per cent |
| Pulse Gram | 2.20 per cent | Chili Powder | -1.42 per cent |
| Garlic | 1.76 per cent | Wheat Flour | -0.85 per cent |
| Potatoes | 0.63 per cent | Pulse Masoor | -0.68 per cent |
According to the PBS, significant price reductions were observed in Chicken (3.02 per cent), Bananas (2.35 per cent), Chili Powder (1.42 per cent), Wheat Flour (0.85 per cent), and Pulse Masoor (0.68 per cent).
Conversely, notable price increases were recorded in Tomatoes (8.03 per cent), Onions (6.53 per cent), Pulse Gram (2.20 per cent), Garlic (1.76 per cent), and Potatoes (0.63 per cent).
The SPI analysis by income groups revealed that the percentage change varied between -0.86 per cent and 0.11 per cent across all quantiles. The lowest income group experienced a slight increase of 0.16 per cent in weekly inflation, while the highest income group saw a decrease of 0.58 per cent.
On a yearly basis, the SPI increased across all income segments, ranging from 9.78 per cent to 17.92 per cent. The lowest income group faced a 9.78 per cent rise in inflation, whereas the highest income group recorded a 14.48 per cent increase.
In other commodities, the average price of Sona urea was Rs4,692 per 50 kg bag, a 0.87 per cent decrease from the previous week but 23.33 per cent higher than the same period last year.
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