Weekly Sensitive Price Indicator Drops by 0.92%

The Sensitive Price Indicator (SPI) for the week that ended on 26 November recorded a decrease of 0.92 percent over the last week.

The decrease was due to a fall in the prices of food items like tomatoes (10.26 percent), onions (8.48 percent), chicken (8.28 percent), sugar (4.78 percent), and pulses and wheat flour (0.2 percent), the Pakistan Bureau of Statistic (PBS) said.

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According to the latest data released by the PBS, SPI dipped from 143.05 points during the week that ended on 5 November to 141.74 points during the week under review.

During the week in question, the price of the gram pulse witnessed a reduction of 0.75 percent, maash pulse by 0.73 percent, moong pulse by 0.49 percent, masoor pulse by 0.25 percent, wheat flour (bag) by 0.20 percent, and potatoes by 0.17 percent.

The variations in the prices of the above-mentioned commodities have a joint impact of -1.01% on the overall SPI for the combined group of (-0.92 percent).

The prices of the following items witnessed an increase on a weekly basis: bananas by 1.76 percent and eggs 1.08 percent; and among the non-food items, the price of firewood increased by 1.04 percent.

According to the PBS, on a year-on-year (YoY) basis, the SPI witnessed an increase of 7.48 percent from 28 November 2019 to 26 November 2020 as the prices of most of the items increased significantly over the period.

PBS said that on a YoY basis, the price of chili powder increased by 86.31 percent, potatoes by 69.19 percent, eggs by 56.99 percent, chicken by 45.14 percent, sugar by 30.92 percent, matchboxes by 24.40 percent, and Sufi washing soap by 20.79 percent.

Moreover, the price of moong pulse increased by 18.71 percent, mash pulse by 18.25 percent, gur by 18.18 percent, long cloth by 16.57 percent, masoor pulse by 16.25 percent, vegetable ghee (1 kg) by 15.99 percent, bread by 15.95 percent, mustard oil by 15.89 percent, and shirting by 15.72 percent.

However, according to the PBS, on a YoY basis, there was a decline in the prices of certain items including tomatoes by 33.23, diesel by 20.25 percent, garlic by 18.15 percent, onions by 15.89 percent, petrol by 11.75 percent, electricity for Q1 by 8.77 percent, and LPG by 2.40 percent.

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During the week, out of 51 items, the prices of 11 items, which is 21.56 percent of the basket, increased; 10 items reflecting 19.62 percent of the basket decreased; and 30 items, which is 58.82 percent, remained constant.

The SPI for the consumption groups up to Rs. 17,733, from Rs. 17,733 to Rs. 22,888, from Rs. 22,889 to Rs. 29,517, and from Rs. 29,518 to Rs. 44,175, and above Rs. 44,175 per month decreased by 0.1.01 percent, 1.05 percent, 0.99 percent, 0.97 percent, and 0.83 percent respectively.

The commodities that had an increase in their average prices include bananas by 1.76 percent, eggs by 1.08 percent, firewood (whole) by 1.04 percent, and garlic by 0.85 percent.