Tag: Essentials

  • Cost of living rises in Pakistan: Weekly inflation jumps by 0.81%

    Cost of living rises in Pakistan: Weekly inflation jumps by 0.81%

    In a recent report by the Pakistan Bureau of Statistics (PBS), the Weekly Sensitive Price Indicator (SPI) for the Combined Group witnessed a marginal increase of 0.81 per cent Week on Week (WoW), concluding on January 04, 2024.

    The SPI also exhibited a substantial 42.86 per cent Year on Year (YoY) surge when compared to the corresponding period from the previous year.

    The Combined Index, reflecting the overall price movement, stood at 313.66 as of January 04, 2024, compared to 311.14 on December 28, 2023. In contrast, a year ago on January 05, 2023, the index was reported at 219.56.

    Out of the 51 items considered, the average prices of 19 items experienced an increase, 09 items observed a decrease, and 23 items remained stable throughout the week.

    During this period, notable price hikes were observed in tomatoes (16.04 per cent), chicken (13.98 per cent), eggs (3.20 per cent), onions (3.04 per cent), and bananas (2.13 per cent).

    Moreover, significant decreases were noted in the prices of potatoes (8.68 per cent), tea Lipton (1.29 per cent), garlic (0.68 per cent), and cooking oil 5 litre & vegetable ghee 2.5 kg (0.54 per cent) each.

    Analysing the weekly SPI percentage change across income groups revealed a universal increase ranging from 0.79 per cent to 0.84 per cent. The Lowest Income Group experienced a rise of 0.81 per cent, while the highest income group recorded a slightly lower increase of 0.8 per cent.

    On a yearly basis, the SPI change across different income segments exhibited a general increase ranging from 35.33 per cent to 46.38 per cent. The Lowest Income Group saw a yearly rise of 35.33 per cent, while the highest income group recorded an increase of 41.35 per cent.

    Noteworthy price points in the market included Sona urea, with an average price of Rs4,618 per 50 kg bag, marking a 0.02 per cent increase from the previous week and a substantial 72.45 per cent surge compared to the previous year.

    In contrast, the average Cement price recorded at Rs1,226 per 50 kg bag showed a 0.47 per cent decrease from the previous week but stood 17.43 per cent higher than prices observed last year.

    These fluctuations in the SPI underscore the dynamic nature of the market, reflecting both short-term variations and longer-term economic trends.

    As consumers and businesses navigate these changes, analysts are closely monitoring the SPI for insights into broader economic patterns.

  • Food price hikes pushes weekly inflation to 3.38 per cent

    Food price hikes pushes weekly inflation to 3.38 per cent

    According to the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week ended June 16, 2022, surged by 3.38 per cent due to increases in the prices of food and non-food items.

    The year-over-year (YoY) trend indicates a 27.82 per cent rise, owing primarily to an increase in rates of following:

    Onions (135.31 per cent), diesel (132.61 per cent), tomatoes (117.27 per cent), petrol (110.16 per cent), vegetable ghee 1 kg (81.76 per cent), mustard oil (80.88 per cent), pulse Masoor (74.77 per cent), cooking oil 5 litre (71.52 per cent), vegetable ghee 2.5 kg (68.47 per cent), LPG (60.97 per cent), garlic (57.72 per cent), washing soap (52.73 per cent), garlic (57.72 per cent (51.11 per cent).

    On the flip side, a considerable decrease was reported in prices of chilli powder (43.42 per cent), pulse Moong (18.06 per cent), sugar (10.79 per cent), bananas (0.83 per cent), gur (0.45 per cent).

    According to the most recent data, the SPI increased from 182.88 per cent to 189.07 per cent during the week ended June 9, 2022.

    The SPI increased by 2.85 per cent, 3.45 per cent, 3.10 per cent, 3.12 per cent, and 3.10 per cent for consumption groups up to Rs17,732 and Rs17,733 to Rs22,888, Rs22,889 to Rs29,517, and Rs29,518 to Rs44,175 and above Rs44,175 respectively.

    According to the PBS, out of 51 items, 36 (70.59 per cent) increased in price, 06 (11.76 per cent) decreased in price, and 09 (17.65 per cent) remained stable during the week.

    Increase: Vegetable ghee Dalda/Habib or other superior quality 1 kg pouch each (4.95 per cent), tea prepared (4.83 per cent), bread plain (4.37 per cent), toilet soap Lifebuoy (4.13 per cent), pulse Masoor (3.50 per cent), cooking oil Dalda 5 litre tin each (2.87 per cent), Sufi washing soap (2.33 per cent), mustard oil (2.24 per cent), vegetable ghee Dalda/Habib 2.5 kg tin each (1.93 per cent), pulse Mash (1.71 per cent), beef with bone (1.50 per cent), energy saver (1.04 per cent), curd (1.01 per cent), mutton (0.89 per cent), eggs (0.85 per cent), salt powdered (0.79 per cent), lawn printed Gul Ahmed/Al Karam (0.77 per cent), basmati broken (0.68 per cent), garlic (0.59 per cent), tomatoes (0.49 per cent), milk fresh (0.45 per cent), powdered milk Nido (0.41 per cent).