Weekly inflation drops as tomato, chicken prices ease

WEB DESK: The Sensitive Price Indicator (SPI) for the Combined Group fell by 0.73 per cent week-on-week (WoW) during the week ending June 27, 2024.

However, the SPI experienced a significant year-on-year (YoY) increase of 22.88 per cent compared to the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS).

The Combined Index stood at 314.57, down from 316.88 a week earlier. A year ago, the index was recorded at 256.00, highlighting the substantial annual increase.

During the observed week, the prices of 18 out of 51 monitored items (35.29 per cent) increased, while the prices of 8 items (15.69 per cent) decreased. The prices of 25 items (49.02 per cent) remained stable.

Notable weekly price decreases included tomatoes (25.25 per cent), chicken (14.20 per cent), onions (3.90 per cent), garlic (2.80 per cent), and bread (0.81 per cent). Conversely, significant price increases were observed in wheat (8.21 per cent), LPG (5.38 per cent), pulse gram (4.72 per cent), pulse moong (3.20 per cent), and cooked daal (1.87 per cent).

The weekly SPI percentage change by income groups revealed a decrease across all quantiles, ranging from -0.67 per cent to -0.85 per cent. The lowest income group experienced a 0.8 per cent decline, while the highest income group saw a 0.67 per cent reduction.

On a yearly basis, the SPI change across different income segments showed an increase in all quantiles, ranging from 16.57 per cent to 26.0 per cent. The lowest income group faced a 16.57 per cent increase in the yearly SPI, whereas the highest income group recorded a 20.53 per cent rise.

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