Weekly inflation rises as prices of 16 items increase in local market

ISLAMABAD: Pakistan’s short-term inflation saw a marginal rise of 0.05 per cent for the week ending September 26, 2024, and recorded an annual increase of 12.8 per cent, according to the Pakistan Bureau of Statistics (PBS).

PBS measures short-term inflation through the Sensitive Price Indicator (SPI), which tracks weekly price changes in essential commodities to monitor the cost of living. The SPI includes 51 basic items collected from 50 markets across 17 cities in Pakistan.

During the latest week, 16 out of these 51 items (31.37 per cent) saw price increases, nine items (17.65 per cent) experienced a drop, while the prices of 26 items (50.98 per cent) remained stable.

The items with the highest weekly price increases were tomatoes (5.78 per cent), onions (5.49 per cent), pulse gram (1.01 per cent), potatoes (0.94 per cent), and gur (0.82 per cent). Conversely, prices fell for pulse mash (1.80 per cent), pulse moong (1.35 per cent), sugar (1.30 per cent), bananas (1.27 per cent), and pulse masoor (0.93 per cent).

The SPI analysis by income group showed that all groups experienced price increases, ranging from 0.04 per cent to 0.08 per cent for the week. The lowest income group faced a rise of 0.08 per cent, while the highest income group saw an increase of 0.04 per cent.

Annually, the SPI rose for all income segments, with increases ranging from 9.2 per cent to 16.18 per cent. The lowest income group experienced a 9.2 per cent rise, while the highest income group saw an increase of 11.09 per cent.

Regarding specific items, the average price of Sona urea was recorded at Rs4,582 per 50 kg bag, 1.32 per cent lower than last week but 21.33 per cent higher compared to the same period last year.

The average cement price reached Rs1,459 per 50 kg bag, showing a slight weekly decrease of 0.52 per cent, though it remained 21.99 per cent higher year-on-year.

Below are the top gainers and decliners for the week:

Read next: Govt may keep petrol price unchanged next fortnight, small drop expected for diesel