According to data released by the Pakistan Bureau of Statistics (PBS), the SPI for the week ending on May 16, 2024, showed a decline of -1.06 per cent compared to the previous week. However, in a year-on-year comparison, the SPI surged by 21.22 per cent compared to the same period last year.
The Combined Index, a key metric monitored by economists and consumers alike, stood at 309.25, indicating a decrease from 312.56 recorded a week earlier. This contrasts with the index of 255.12 registered during the corresponding period last year.
Among the 51 items tracked, prices exhibited mixed trends, with 39.22 per cent of items experiencing an increase, 31.37 per cent witnessing a decrease, and 29.41 per cent remaining stable.
Notable decreases were observed in the prices of tomatoes (31.18 per cent), onions (21.84 per cent), garlic (7.76 per cent), wheat (5.48 per cent), and petrol (5.32 per cent). Conversely, significant increases were noted in the prices of cooked daal (1.96 per cent), shirting (1.74 per cent), potatoes (1.46 per cent), beef (1.11 per cent), and mutton (1.04 per cent).
Analysis of the weekly SPI percentage change across income groups revealed a uniform decrease, ranging between -1.02 per cent and -1.17 per cent. The lowest income group experienced the most significant weekly fall at 1.17 per cent, while the highest income group recorded a decline of 1.06 per cent.
On an annual basis, SPI trends across income segments indicated increases ranging between 14.54 per cent and 24.58 per cent. The lowest income group saw a 14.54 per cent increase in the yearly SPI, while the highest income group experienced a 19.07 per cent rise.
