Weekly inflation up 1.16pc year-on-year
Business
SPI fell by 0.39 percent, reflecting declining prices in key food categories: PBS
KARACHI (Dunya New) – Inflationary has moderated further because the Sensitive Price Indicator (SPI) recorded a year-on-year increase of 1.16 percent for the week ending January 16, the lowest rate in several months.
If we discuss weekly inflation, the SPI fell by 0.39 percent, reflecting declining prices in key food categories, according to data from the Pakistan Bureau of Statistics (PBS).
Tomatoes led the weekly price declines, plunging 18.31 percent, followed by potatoes (-10.42 percent), onions (-10.01 percent), and eggs (-8.64 percent).
Other major decreases included chicken (-2.17 percent), liquefied petroleum gas (-1.21 percent), and mustard oil (-0.67 percent).
However, the week saw price hikes for certain commodities. Bananas posted the largest increase, rising by 3.22 percent, while petrol prices increased by 1.39 percent. Other significant contributors to inflation included vegetable ghee (up 1.08 percent for 2.5 kg packaging and 0.74 percent for 1 kg), cooking oil (+1.01 percent), firewood (+1.00 percent), and diesel (+0.99 percent).
Out of the 51 essential items tracked across 17 cities, prices for 21 items rose, 10 declined, and 20 remained unchanged.
The annual SPI data highlights a complex inflationary picture. Prices of certain items have surged over the past year, with ladies’ sandals topping the list at a 75.09 per cent increase, followed by potatoes (+47.91 percent), gram pulses (+39.77 percent), and moong pulses (+33.40 percent). Similarly, powdered milk and beef prices rose by 25.77 percent and 22.59 percent, respectively.
Several essential items witnessed significant year-on-year price reductions, including onions (-47.22 percent), wheat flour (-35.89 percent), and eggs (-31.92 percent). Chillies powder (-20.00m percent) and tomatoes (-19.83 percent) also saw considerable declines, offering a little relief to consumers.
