Weekly inflation surges due to increase in chicken, tomato prices

ISLAMABAD: The Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a notable increase of 1.3 per cent for the week ending June 13, 2024, marking a significant 23.03 per cent rise compared to the same period last year, according to data from the Pakistan Bureau of Statistics (PBS).

The PBS data revealed that the Combined Index rose to 313.93, up from 309.91 the previous week. This figure stood at 255.17 during the same week in the previous year.

In the latest week, out of the 51 monitored items, prices for 19 items (37.26 per cent) increased, 8 items (15.68 per cent) decreased, and 24 items (47.06 per cent) remained unchanged.

Key weekly price increases were observed in:

1. Tomatoes: up by 27.14 per cent
2. Chicken: up by 11.75 per cent
3. Electricity for Q1: up by 8.73 per cent
4. Pulse Gram: up by 7.19 per cent
5. LPG: up by 6.14 per cent

Conversely, notable price decreases included:

1. Onions: down by 5.00 per cent
2. Chilies Powder: down by 1.95 per cent
3. Rice Basmati Broken: down by 1.65 per cent
4. Garlic: down by 1.32 per cent
5. Rice IRRI: down by 1.08 per cent

Analysis of the weekly SPI percentage change across income groups showed an increase across all quantiles, ranging from 1.01 per cent to 1.31 per cent. The lowest income group experienced a weekly rise of 1.01 per cent, while the highest income group saw a rise of 1.29 per cent.

Yearly SPI analysis across different income segments indicated increases ranging between 16.29 per cent and 26.07 per cent, reflecting the broad-based impact of inflation on various income levels.

The continuous rise in the SPI underscores the ongoing inflationary pressures faced by consumers across Pakistan, affecting essential commodities and overall living costs.

Read next: PKR gains 8.22 paisa against USD