Inflation persists unabated despite all efforts

Data released by the Pakistan Bureau of Statistics (PBS) shows that the Combined Index stood at 281.77 on September 21, 2023, as opposed to 279.18 on September 14, 2023. In contrast, a year ago on September 22, 2022, the index was recorded at 203.21 points.

This means that despite all efforts, inflation in the country is on the rise. Prices are nearly 1 percent higher than a week ago, and over 38 percent higher than a year ago. The exact Weekly Sensitive Price Indicator (SPI) for the Combined Group shows an increase of 0.93 percent week-on-week (WoW), for the week ending on September 21, 2023. For year-on-year (YoY), the SPI shows a massive 38.66 percent surge.

Pakistani rupee further appreciates against US dollar

Among the 51 items monitored, the average price of 22 items increased, 11 items decreased, and 18 items remained stable.

Weekly SPI percentage change based on income groups revealed that SPI witnessed an increase across all quantiles, ranging from 0.05 percent to 1.27 percent. Specifically, the Lowest Income Group experienced a marginal weekly increase of 0.05 percent, while the highest income group recorded a more significant increase of 1.27 percent.

Looking at the yearly changes in SPI across different income segments, it was observed that SPI increased across all quantiles, with percentages ranging from 34.28 percent to 41 percent. The lowest income group reported a yearly SPI increase of 38.27 percent, while the highest income group registered an increase of 34.28 percent.