Tag: Pakistan Bureau of Statistics

  • Pakistan’s weekly inflation dips slightly amid lower fuel and onion prices

    Pakistan’s weekly inflation dips slightly amid lower fuel and onion prices

    Pakistan’s weekly inflation, as measured by the Sensitive Price Indicator (SPI), registered a slight decline of 0.16 per cent for the combined consumption groups during the week ending on August 15, according to the Pakistan Bureau of Statistics (PBS).

    The SPI for the period under review stood at 322.03 points, down from 322.54 points the previous week. However, compared to the corresponding week last year, the SPI for the combined consumption group saw a significant increase of 16.86 per cent.

    The SPI, with the base year set at 2015-16, covers 17 urban centres and tracks 51 essential items across all expenditure groups.

    For the lowest consumption group, with a monthly expenditure of up to Rs17,732, the SPI witnessed a marginal increase of 0.07 per cent, rising to 311.04 points from 310.83 points in the previous week.

    Similarly, the SPI for the Rs 17,732-22,888 consumption group saw a minimal rise of 0.01 per cent. In contrast, for consumption groups with expenditures ranging from Rs22,889-29,517, Rs29,518-44,175, and above Rs44,175, the SPI declined by 0.05 per cent, 0.10 per cent, and 0.25 per cent, respectively.

    Out of the 51 items monitored during the week, the prices of 19 items (37.25 per cent) increased, 13 items (25.50 per cent) decreased, while the remaining 19 items (37.25 per cent) remained stable.

    The key items that saw a decrease in average prices on a week-on-week basis included onions (4.91 per cent), petrol (3.15 per cent), diesel (2.44 per cent), wheat flour (1.83 per cent), pulse moong (1.81 per cent), chicken (1.57 per cent), bananas (1.36 per cent), LPG (0.90 per cent), sugar (0.59 per cent), potatoes (0.58 per cent), and pulse masoor (0.56 per cent).

    Conversely, items that recorded an increase in their average prices included tomatoes (34.77 per cent), eggs (4.78 per cent), garlic (1.99 per cent), beef (0.88 per cent), cooked beef (0.41 per cent), georgette (0.40 per cent), gur (0.39 per cent), curd (0.32 per cent), and mustard oil (0.28 per cent).

  • Weekly inflation drops 1.39% as onion and chicken prices ease

    Weekly inflation drops 1.39% as onion and chicken prices ease

    The latest report from the Pakistan Bureau of Statistics (PBS) reveals that the Weekly Sensitive Price Indicator (SPI) for the Combined Group dropped by 1.39 per cent week-on-week for the period ending May 09, 2024.

    However, when compared to the same period last year, the SPI has risen by 22.32 per cent.

    The Combined Index, which measures price changes for essential items, stood at 312.56 at the end of the week, down from 316.95 the previous week. A year ago, the index was at 255.53.

    Among the 51 items tracked by the SPI, 12 (23.53 per cent) showed price increases, 13 (25.49 per cent) saw price decreases, and 26 (50.98 per cent) remained stable.

    Notable price decreases during the week included onions, which dropped by 19.22 per cent, chicken by 18.83 per cent, wheat flour by 4.00 per cent, LPG by 3.67 per cent, and wheat by 3.49 per cent.

    In contrast, the most significant price increases were recorded for tomatoes, which rose by 19.24 per cent, eggs by 4.73 per cent, potatoes by 4.38 per cent, pulse gram by 0.91 per cent, and cooking oil (5-litre packs) by 0.89 per cent.

    The SPI’s weekly percentage change by income groups indicates that all income brackets experienced a decline in the SPI, ranging from -0.99 per cent to -1.53 per cent.

    The lowest income group saw a drop of 0.99 per cent, while the highest income group experienced a more significant decrease of 1.53 per cent.

    However, over the year, the SPI has increased across all income groups, with the percentage change varying between 15.95 per cent and 25.88 per cent.

    The lowest income group recorded a 15.95 per cent increase, while the highest income group saw a rise of 19.99 per cent.

    In other market trends, the average price for a 50 kg bag of Sona urea stood at Rs4,836, which is 1.80 per cent lower than the previous week but 57.36 per cent higher than a year earlier.

    Meanwhile, the average price for a 50 kg bag of cement was Rs1,204, showing a slight decrease of 0.95 per cent from the previous week, but still 7.58 per cent higher than the corresponding period last year.

  • Pakistan’s exports surge by 8.93% to Rs22.91 billion

    Pakistan’s exports surge by 8.93% to Rs22.91 billion

    Pakistan’s export sector has shown a notable surge, with an 8.93 per cent increase recorded in the initial nine months of the current fiscal year (2023–24) compared to the corresponding period in the previous year.

    Data released by the Pakistan Bureau of Statistics (PBS) indicates that exports soared to $22.914 billion from July to March (2023–24), marking a significant rise from the $21.036 billion recorded during the same timeframe in 2022–2023.

    Conversely, imports experienced a decline of 8.65 per cent, dropping to $39.944 billion from $43.724 billion in the previous year.

    This resulted in a notable improvement in the trade deficit, which amounted to $17.030 billion for the first nine months of the current fiscal year, showcasing a substantial decrease of 24.94 per cent from the $22.688 billion recorded during the corresponding period last year.

    Analyzing the performance for March 2024 against March 2023, exports registered a notable uptick of 7.99 per cent on an annual basis, climbing from $2.366 billion to $2.555 billion.

    Conversely, imports surged by 25.86 per cent, reaching $4.726 billion compared to $3.755 billion in March 2023.

    In terms of month-to-month performance, while exports in March 2024 experienced a marginal decline of 1.08 per cent from February 2024’s $2.583 billion, imports demonstrated a noteworthy increase of 9.25 per cent from the $4.326 billion recorded in February 2024, as per PBS data.

    Pakistan, exports, trade deficit, fiscal year 2023–24, economic growth, Pakistan Bureau of Statistics, imports, March 2024, global trade, commerce, trade statistics,

  • Inflation in Pakistan dips to 20.7% in March

    Inflation in Pakistan dips to 20.7% in March

    Pakistan witnessed a significant downturn in headline inflation as it dipped to 20.7 per cent year-on-year in March, according to the latest data released by the Pakistan Bureau of Statistics (PBS) on Monday.

    This marks a notable decline from February’s figure of 23.1 per cent. Additionally, on a month-on-month basis, inflation rose by 1.7 per cent.

    Notably, this is the lowest inflation reading since May 2022, when it stood at 13.8 per cent, as reported by JS Global.

    It also signifies a remarkable milestone, being the first time in over three years that the Consumer Price Index (CPI)-based inflation figure has fallen below the crucial policy rate, which presently sits at 22 per cent.

    The July-March average inflation now stands at 27.22 per cent, slightly higher than the same period last year at 27.19 per cent.

    The inflation figure, coming in lower than the government’s projections, adds weight to the anticipation of a reduction in the key interest rate.

    In its ‘Monthly Economic Update and Outlook’ report released on Friday, the Ministry of Finance forecasted CPI-based inflation to range between 22.5-23.5 per cent for March 2024.

    Despite the recent upward revision of petrol prices and the onset of Ramadan, inflation in March has been perceived at a moderate level, according to the ministry.

    The government’s announcement of a relief package for Ramadan, with an increased allocation from Rs7.5 billion to Rs12.5 billion, is expected to mitigate the impact of heightened demand during the religious festival.

    Moreover, the moderation of inflationary pressures is attributed partially to the phenomenon of the high base effect, as highlighted in the outlook report.

    Global factors have also played a role in shaping inflation dynamics, as noted by brokerage house Arif Habib Limited (AHL). AHL’s report predicts a further decline in inflation, estimating a year-on-year headline inflation rate of 20.2 per cent for March 2024.

    Similarly, IGI Securities projects the national CPI to grow at a year-on-year rate of 20.3 per cent, with a monthly growth of +1.4 per cent compared to February 2024.

    Despite the government’s recent increase in gasoline prices, experts anticipate inflation to remain below 20 per cent in the upcoming months, primarily due to the high base effect.

    This development fuels speculation regarding potential monetary policy adjustments in the near future.

  • Weekly inflation inches down, yearly SPI surges

    Weekly inflation inches down, yearly SPI surges

    The Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a slight dip of 0.09 per cent week over week (WoW) for the week ending March 28, 2024.

    However, compared to the same period last year, the SPI surged by 29.41 per cent, as revealed by data released by the Pakistan Bureau of Statistics (PBS).

    The Combined Index stood at 323.20, a slight decrease from 323.50 the previous week, while it was considerably higher at 249.75 a year ago.

    Among the 51 items monitored, prices of 04 (7.84 per cent) items increased, 18 (35.30 per cent) items decreased, and 29 (56.86 per cent) items remained stable during the week.

    Notable decreases were observed in the prices of Tomatoes (12.04 per cent), Wheat Flour (3.80 per cent), Garlic (2.59 per cent), LPG (2.42 per cent), and Wheat (2.09 per cent).

    Conversely, significant increases were noted in the prices of Chicken (4.92 per cent), Eggs (1.61 per cent), Shirting (0.56 per cent), and Rice Irri 6/9 (0.15 per cent).

    The weekly SPI percentage change across all income groups indicated a decrease, ranging between -0.03 per cent and -0.27 per cent.

    The lowest income group experienced the most significant weekly fall of 0.27 per cent, while the highest income group saw a decrease of 0.03 per cent.

    On a yearly basis, SPI increased across all income segments, ranging between 22.15 per cent and 33.5 per cent.

    The Lowest Income Group recorded a 22.15 per cent increase, while the highest income group saw a rise of 26.58 per cent.

    In terms of specific commodities, the average price of Sona urea stood at Rs4,828 per 50 kg bag, marking a marginal decrease of 0.02 per cent compared to last week, yet reflecting a significant increase of 69.56 per cent compared to last year.

    Meanwhile, the average Cement price was recorded at Rs1,220 per 50 kg bag, showing a slight decrease of 0.06 per cent compared to the previous week but an increase of 8.47 per cent compared to prices last year.

  • Inflation edges higher as weekly SPI indicates increase in prices

    Inflation edges higher as weekly SPI indicates increase in prices

    According to the Weekly Sensitive Price Indicator (SPI) released by the Pakistan Bureau of Statistics (PBS), the Combined Group’s SPI increased by 0.04 per cent during the week ending February 22, 2024.

    Additionally, the SPI surged by 30.68 per cent YoY compared to the same period last year.

    As of February 22, 2024, the Combined Index stood at 315.31, a slight uptick from 315.18 on February 15, 2024. A year ago, on February 23, 2023, the index was significantly lower at 241.29.

    Analysing the data for 51 items, it was found that the average prices of 23 items increased, 8 items decreased, and 20 items remained stable.

    Notable increases during the week were observed in the prices of tomatoes (22.71 per cent), bananas (7.40 per cent), diesel (3.02 per cent), chicken (1.22 per cent), and petrol (1.00 per cent).

    Conversely, onions (14.42 per cent), eggs (11.19 per cent), LPG (1.82 per cent), cooking oil (5 litres) (0.75 per cent), and wheat flour (0.36 per cent) experienced significant decreases.

    Breaking down the SPI percentage change by income groups, it was noted that SPI decreased across all 3 quantiles while increasing across 2 quantiles. The lowest-income group saw a weekly decline of -0.08 per cent, while the highest-income group recorded a rise of 0.09 per cent.

    On a yearly basis, the SPI change across different income segments revealed an increase ranging between 25.53 per cent and 35.39 per cent. The lowest-income group witnessed a 25.53 per cent increase, while the highest-income group recorded a 28.22 per cent rise.

    Specifically, the average price of Sona urea reached Rs4,928 per 50 kg bag, reflecting a 9.19 per cent increase from the previous week and a substantial 69.14 per cent surge compared to the same period last year.

    The surge in prices, especially for essential items, poses a challenge for the general populace, particularly those in lower-income groups.

    Authorities and policymakers are likely to face increasing pressure to address and mitigate the impact of inflation on the economy and the daily lives of people.

  • Pakistan’s mobile phone imports skyrocket, surpassing $987 million in first half of FY 23-24

    Pakistan’s mobile phone imports skyrocket, surpassing $987 million in first half of FY 23-24

    Pakistan has witnessed a remarkable surge in mobile phone imports, reaching $987.539 million during the first half (July–January) of the fiscal year 2023–24. 

    This marks a substantial growth of 138.08 per cent compared to the same period in the previous fiscal year, where imports totaled $414.800 million.

    The data, released by the Pakistan Bureau of Statistics (PBS), underscores the country’s increasing reliance on imported mobile devices.

    In January 2024 alone, Pakistan’s mobile phone imports rose by 10.70 per cent on a month-on-month basis, totaling $194.928 million, compared to $176.093 million in December 2023. 

    Year-on-year comparisons reveal an even more staggering growth of 275.15 per cent in January 2024, compared to $51.960 million in January 2023.

    The overall telecom imports into Pakistan during July–January 2023–24 amounted to $1.243 billion, showcasing a robust 93.06 per cent growth compared to the same period in the previous fiscal year. 

    Year-on-year, the growth in overall telecom imports stood at an impressive 197.07 per cent, reaching $232.709 million in January 2024, compared to $78.336 million in January 2023.

    Despite challenges faced by the local manufacturing sector, including a decline of around four per cent in local manufacturing and assembling of mobile handsets during the calendar year 2023, commercial imports of mobile handsets increased. 

    Official data revealed that local manufacturing plants produced 21.28 million mobile handsets in 2023, compared to 21.94 million in 2022 and 24.66 million in 2021. However, commercial imports rose from 1.53 million in 2022 to 1.58 million in 2023.

    Moreover, of the locally manufactured and assembled mobile handsets in 2023, 13 million were 2G devices, and 8.28 million were smartphones. 

    According to the Pakistan Telecommunication Authority (PTA), 59 per cent of mobile devices in Pakistan are smartphones, while 41 per cent are 2G devices.

    Despite the challenges faced by the local manufacturing sector, the significant growth in mobile phone imports underscores Pakistan’s increasing reliance on imported devices, contributing to the country’s evolving telecom landscape.

  • Yearly basis: Weekly inflation stays above 34%

    Yearly basis: Weekly inflation stays above 34%

    In the week concluding on February 15, 2024, the Weekly Sensitive Price Indicator (SPI) for the Combined Group exhibited a slight decrease of 0.78 per cent week-over-week (WoW).

    However, compared to the same period last year, the SPI surged by 34.25 per cent YoY, according to data released by the Pakistan Bureau of Statistics (PBS).

    The combined index, standing at 315.18, marked a slight dip from 317.65 recorded on February 8, 2024. A year ago, on February 16, 2023, the index was substantially lower at 234.77.

    Analysing the data further, out of the 51 items monitored, the average price of 22 items increased, 11 items witnessed a decrease, and 18 items remained stable.

    Notably, PBS did not release SPI data last week, following a 0.28 per cent WoW decline in the preceding week.

    During the week under review, significant decreases were noted in the prices of eggs (28.82 per cent), chicken (4.23 per cent), onions (3.48 per cent), LPG (2.85 per cent), and gur (1.13 per cent).

    Conversely, notable increases were observed in the prices of bananas (4.64 per cent), potatoes (2.80 per cent), match boxes (1.31 per cent), long cloth (1.29 per cent), and cooked daal (0.77 per cent).

    Analysing the SPI percentage change by income groups, a uniform decline of -0.82 per cent to -0.72 per cent was witnessed across all quantiles.

    The lowest-income group experienced a weekly decline of 0.78 per cent, while the highest-income group recorded a decrease of 0.77 per cent.

    On a yearly basis, SPI increased across all quantiles, ranging between 28.68 per cent and 38.54 per cent. The lowest-income group saw a 28.68 per cent increase, while the highest-income group recorded a 32.08 per cent rise.

    The average price of Sona urea fell to Rs4,513 per 50 kg bag, marking a 0.50 per cent decrease from last week and a significant 54.84 per cent increase from the previous year.

    Meanwhile, the average cement price recorded at Rs1,234 per 50 kg bag marked a 2.05 per cent increase from the previous week and a 14.27 per cent hike from the prices recorded last year.

    In a volatile market environment, these fluctuations in the SPI indicate the dynamic nature of the economic landscape, impacting consumers across various income groups.

  • Pakistan’s inflation eases slightly to 28.3% in January 2024

    Pakistan’s inflation eases slightly to 28.3% in January 2024

    The Pakistan Bureau of Statistics (PBS) reported that the country’s headline inflation for January stood at 28.3 per cent on a year-on-year basis, marking a slight decrease from the December figure of 29.7 per cent. The month-on-month reading recorded a 1.8 per cent increase.

    This latest data brings the average inflation for the period of July to January to 28.73 per cent, up from 25.40 per cent in the corresponding period of the previous year. Despite this surge, the inflation rate aligns with the government’s expectations.

    The Ministry of Finance, in its ‘Monthly Economic Update and Outlook’ report released on Wednesday, projected a CPI-based inflation rate of 27.5-28.5 per cent for January 2024. The report attributed the inflationary pressure to elevated prices of perishables and vegetables, along with increased utility costs for electricity and gas.

    A contributing factor to the rising prices has been a surge in onion export orders following the Indian ban, straining local supply and causing domestic prices to escalate.

    Severe weather disruptions led to supply shortages of tomatoes, resulting in price hikes, while reduced chicken supply, especially from controlled sheds facing higher input costs, contributed to increased chicken prices.

    JS Global, in a report from last week, anticipated that inflation would remain elevated, particularly in the food segment. The report predicted a 1.8 per cent month-on-month uptick in food prices, resulting in an overall January 2024 YoY CPI estimate of 27.9 per cent.

    The brokerage house noted that the CPI inflation in the coming months is expected to remain on the lower side amid the decline in local fuel prices and the high base effect of last year.

    Breaking down the inflation figures, urban areas recorded a year-on-year CPI inflation of 30.2 per cent in January 2024, slightly lower than the previous month’s 30.9 per cent and higher than January 2023’s 24.4 per cent. On a month-on-month basis, urban inflation increased by 1.8 per cent in January 2024.

    In rural areas, year-on-year CPI inflation for January 2024 was 25.7 per cent, down from the previous month’s 27.9 per cent but higher than January 2023’s 32.3 per cent. On a month-on-month basis, rural inflation increased by 1.9 per cent in January 2024.

    The PBS data indicates a nuanced inflationary landscape in Pakistan, with both urban and rural areas experiencing fluctuations in prices across various commodities. The government’s focus on addressing these challenges remains critical as it navigates the economic impact of inflation on citizens and businesses.

  • Pakistan’s exports surpass Rs4,300 billion, up by 35.33% in six months

    Pakistan’s exports surpass Rs4,300 billion, up by 35.33% in six months

    The Pakistan Bureau of Statistics (PBS) has reported a substantial increase of 35.33 per cent in the country’s exports in rupee terms during the first half of the current fiscal year, as compared to the corresponding period of the previous year.

    According to provisional data released by PBS, exports from July to December 2023 amounted to Rs4,300,752 million, a significant rise from Rs3,177,893 million recorded during the same period last year.

    On a year-on-year basis, exports for December 2023 witnessed a remarkable surge of 54.59 per cent, reaching Rs799,588 million, compared to Rs517,240 million in October 2022.

    Additionally, on a month-on-month basis, exports increased by 8.86 per cent when compared to the figure of Rs734,541 million reported in November 2023.

    The key commodities contributing to this growth in December 2023 were rice other than basmati (Rs124,040 million), knitwear (Rs103,898 million), readymade garments (Rs84,569 million), bedwear (Rs64,119 million), cotton cloth (Rs40,678 million), cotton yarn (Rs26,984 million), towels (Rs24,814 million), rice basmati (Rs22,888 million), articles excluding towels and bedwear (Rs16,991 million), and meat and meat preparations (Rs12,472 million).

    In contrast, imports during July–December 2023–24 amounted to Rs7,533,700 million, showing an increase of 8.20 per cent compared to Rs6,962,865 million during the corresponding period last year.

    On a year-on-year basis, December 2023 imports totaled Rs1,317,463 million, reflecting a 13.94 per cent increase from December 2022. Moreover, on a month-on-month basis, imports increased by 1.66 per cent in December 2023 compared to Rs1,295,968 million in November 2023.

    The main commodities of imports during December 2023 were petroleum crude (Rs158,260 million), petroleum products (Rs150,888 million), natural gas, liquified (Rs109,516 million), electric machinery & apparatus (Rs63,667 million), palm oil (Rs60,316 million), plastic materials (Rs52,218 million), mobile phones (Rs49,887 million), iron & steel (Rs41,654 million), iron and steel scrap (Rs30,426 million), and motor cars (Rs29,543 million).

    This surge in exports, coupled with a measured rise in imports, signifies a positive trend in Pakistan’s trade balance, reflecting the resilience and competitiveness of the country’s export sector.