Weekly inflation in Pakistan jumps by 29.86%

WEB DESK: The Weekly Sensitive Price Indicator (SPI) for the Combined Group experienced a 0.73 per cent week-on-week increase during the week ending November 8, 2023.

In a year-on-year comparison to the corresponding period last year, the SPI saw a substantial rise of 29.86 per cent.

Data released by the Pakistan Bureau of Statistics (PBS) revealed that the combined index stood at 281.12 on November 2, 2023, as opposed to 279.08, indicating an increase.

In contrast, the index was recorded at 216.48 a year ago, on November 10, 2022.

Among 51 items, the average price of 20 items increased, 8 items witnessed a decrease, and 23 items remained stable.

Notable increases were noted in the prices of tomatoes (15.43 per cent), potatoes (4.47 per cent), wheat flour (2.36 per cent), garlic (2.16 per cent), and salt powder (1.82 per cent).

Conversely, significant decreases were observed in the prices of Gur (2.43 per cent), vegetable ghee 1 kg (0.36 per cent), rice Irri 6/9 (0.34 per cent), vegetable ghee 2.5 KG (0.25 per cent), and rice basmati broken (0.13 per cent).

The weekly SPI percentage change across income groups indicated an increase across all quantiles, ranging from 0.59 per cent to 1.05 per cent.

The lowest-income group experienced a 1.05 per cent weekly increase, while the highest-income group recorded a 0.59 per cent increase.

On a yearly basis, the analysis of SPI changes across different income segments demonstrated an increase ranging from 28.51 per cent to 30.23 per cent.

The yearly SPI for the lowest income group increased by 28.51 per cent, and the highest income group recorded an increase of 29.88 per cent.

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