In a significant shift, weekly inflation in Pakistan has increased after seven weeks of consecutive declines.
The Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a 0.11 per cent week-on-week rise for the week ending May 30, 2024.
This comes as a 21.4 per cent year-on-year increase compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).
The Combined Index stood at 308.52, slightly up from 308.19 the previous week, and significantly higher than the 254.13 recorded a year ago.
Out of the 51 items monitored, prices for 14 items (27.45 per cent) increased, 14 items (27.45 per cent) decreased, and 23 items (45.10 per cent) remained unchanged.
Inflation drivers
Notable price increases during the week were observed in tomatoes (11.25 per cent), onions (3.62 per cent), pulse mash (2.00 per cent), bananas (1.78 per cent), and potatoes (1.23 per cent).
Conversely, significant price decreases were seen in eggs (6.14 per cent), chili powder (5.73 per cent), LPG (5.40 per cent), garlic (4.02 per cent), and rice IRRI (2.93 per cent).
The SPI percentage change by income groups revealed increases across all segments, ranging from 0.08 per cent to 0.15 per cent. The lowest income group experienced a 0.09 per cent rise, while the highest income group saw a 0.08 per cent increase.
On an annual basis, SPI changes showed increases between 14.68 per cent and 24.67 per cent across different income segments, with the lowest income group seeing a 14.68 per cent rise and the highest income group a 19.24 per cent increase.
The average price of Sona urea was recorded at Rs4,796 per 50 kg bag, reflecting a 0.16 per cent decrease from the previous week but a 55.19 per cent increase from last year.
Meanwhile, the average price of cement rose to Rs1,237 per 50 kg bag, up 0.30 per cent from the previous week and 9.80 per cent higher than the previous year.
