Tag: SPI Report

  • Tomato and onion price hikes push weekly inflation up

    Tomato and onion price hikes push weekly inflation up

    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.

  • 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.

  • Eggs and tomatoes lead weekly price hikes in latest SPI inflation report 

    Eggs and tomatoes lead weekly price hikes in latest SPI inflation report 

    The latest data from the Pakistan Bureau of Statistics (PBS) reveals that, for the week ending on October 12, the Sensitive Price Indicator (SPI) reflected a notable weekly inflation uptick of 0.30 per cent.

    During this period, the SPI for this particular category surged to 282.86 points, marking a distinct rise from the preceding week’s 282.00 points.  

    Among the 51 items tracked, the price dynamics exhibited a balanced distribution, with 17 items experiencing upward price movements, 17 witnessing price declines, and 17 remaining stable throughout the week. 

    Some of the commodities that observed a decline in prices encompassed sugar (4.47 per cent), pulse gramme (2.75 per cent), bananas (2.47 per cent), pulse moong (2.44 per cent), gur (1.93 per cent), chicken (1.69 per cent), rice irri-6/9 (1.46 per cent), and pulse masoor (1.26 per cent). 

    Conversely, there was a noticeable surge in the prices of several items during the same week, including tomatoes (6.28 per cent), eggs (3.48 per cent), salt powdered (2.75 per cent), cooked beef (1.06 per cent), garlic (1.04 per cent), tea prepared (0.73 per cent), beef (0.39 per cent), potatoes (0.35 per cent), electricity charges for Q1 (8.59 per cent), energy server (0.55 per cent), shirting (0.47 per cent), and LPG (0.31 per cent). 

    For a broader perspective, when evaluating these price changes on a year-on-year basis, it becomes evident that certain commodities have shown significant variations.  

    For instance, tomatoes witnessed a substantial year-on-year decline of 43.53 per cent, while onions experienced a decrease of 16.67 per cent.  

    Furthermore, pulse gramme recorded a drop of 4.01 per cent, and mustard oil saw a more modest decline of 1.19 per cent. These statistics provide valuable insights into the evolving economic landscape and the relative stability of various consumer goods.