Weekly inflation increases 0.17 per cent

ISLAMABAD: The Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a modest increase of 0.17 per cent for the week ending 25 July 2024. On a year-on-year basis, the SPI surged by 20.09 per cent compared to the same week in the previous year.

Data from the Pakistan Bureau of Statistics (PBS) reveal that the Combined Index rose to 321.95, up from 321.40 the previous week, and significantly higher than the 268.08 recorded a year ago.

Out of 51 monitored items, 19 (37.25 per cent) saw price increases, 8 (15.69 per cent) experienced price drops, and 24 (47.06 per cent) remained unchanged.

Notable price hikes were observed in Chicken (up 4.80 per cent), Garlic (up 2.01 per cent), Pulse Gram (up 1.87 per cent), Eggs (up 1.71 per cent), and Beef (up 0.93 per cent).

Conversely, significant decreases were seen in Tomatoes (down 9.19 per cent), Onions (down 2.14 per cent), LPG (down 1.04 per cent), Bananas (down 0.53 per cent), and Wheat Flour (down 0.35 per cent).

The SPI changes varied by income group, with increases across all segments ranging from 0.08 per cent to 0.19 per cent. The lowest income group saw a weekly rise of 0.08 per cent, while the highest income group experienced a 0.19 per cent increase.

Year-on-year changes in the SPI also showed increases across all income groups, with rises between 13.41 per cent and 22.23 per cent. Specifically, the lowest income group saw a 13.41 per cent increase, while the highest income group recorded an 18.41 per cent rise.

The average price of Sona urea decreased slightly by 0.14 per cent to Rs4,781 per 50 kg bag from the previous week, though it remains 40.96 per cent higher than last year.

Meanwhile, the average price of cement climbed to Rs1,460 per 50 kg bag, a 0.36 per cent increase from the previous week and 28.05 per cent higher compared to last year.

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