Weekly SPI inflation eases slightly as tomato, chicken prices drop

ISLAMABAD: Pakistan’s short-term inflation saw a slight dip of 0.15 per cent during the week ending September 5, 2024, marking the fourth consecutive week of decline, according to a report released by the Pakistan Bureau of Statistics (PBS) on Friday.

However, compared to the same period last year, inflation increased by 14.07 per cent.

The PBS tracks short-term inflation using the Sensitive Price Indicator (SPI), which monitors the price changes of essential goods on a weekly basis to give a more immediate picture of inflation trends. The SPI covers 51 key items from 50 markets in 17 cities across Pakistan.

During the week under review, 19 items (37.25 per cent) recorded price increases, 13 items (25.5 per cent) saw price reductions, while the remaining 19 items (37.25 per cent) maintained stable prices.

Notably, the prices of tomatoes dropped by 14.54 per cent, chicken by 1.55 per cent, wheat flour by 1.31 per cent, chilli powder by 1.30 per cent, and diesel by 1.23 per cent. In contrast, the prices of onions increased by 3.83 per cent, pulse gram by 1.65 per cent, garlic by 1.38 per cent, liquefied petroleum gas (LPG) by 0.90 per cent, and cooked lentils and beef by 0.70 per cent.

The SPI also showed a slight decrease across all income groups, ranging from 0.14 per cent to 0.17 per cent for the week. The lowest income group experienced a 0.14 per cent drop, while the highest income group saw a 0.15 per cent reduction.

On a year-on-year basis, inflation rose across all income brackets, with the lowest income group seeing an 8.79 per cent increase and the highest income group experiencing a 13.11 per cent rise in prices.

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