The Sensitive Price Indicator (SPI)-based inflation for the week ended July 6, 2023, recorded an increase of 28.55 percent on a year-on-year (YoY) basis, says the Pakistan Bureau of Statistics (PBS).
According to Topline Securities, this is the lowest rate since October 20, 2022, when SPI inflation clocked in at 27.1 percent.
Pakistan's weekly inflation (SPI) has dropped to 29% for the week ending July 06, 2023, which is the lowest since Oct 20, 2022. pic.twitter.com/FBt2O8Mmjm
— Topline Securities (@toplinesec) July 7, 2023
The SPI for the week ended July 6, 2023, increased by 0.7 percent due to an increase in the prices of food items including tomatoes (42.25 percent), onions (8.70 percent), potatoes (4.79 percent), wheat flour (4.05 percent), gur (4.01percent) sugar (3.48 percent) and non-food items, shirting (3.02 percent) and diesel (2.95 percent).
The YoY increase is mainly due to an increase in the prices of wheat flour (121.69 percent), cigarettes (112.94 percent), gas charges for q1 (108.38 percent), tea lipton (102.86 percent), rice basmati broken (77.40 percent), rice irri-6/9 (74.61 percent), potatoes (69.06 percent), chicken (63.22 percent), gents sponge chappal (58.05 percent), salt powdered (51.61 percent), sugar (50.08 percent), bananas (48.96 percent) and bread (46.86 percent), while a decrease is observed in the prices of onions (23.94 percent), electricity for q1 (14.58 percent), tomatoes (13.26 percent), pulse masoor (7.17 percent), diesel (5.82 percent) and vegetable ghee 1 kg (0.81 percent).
During the week, out of 51 items, prices of 24 (47.06 percent) items increased, 10 (19.61 percent) items decreased and 17 (33.33 percent) items remained stable.
The items, which recorded an increase in their average prices during the week over the previous include tomatoes (42.25 percent), onions (8.70 percent), potatoes (4.79 percent), wheat flour bag 20 kg (4.05 percent), gur (4.01 percent), sugar (3.48 percent), shirting (3.02 percent), hi-speed diesel (2.95 percent), garlic (1.90 percent), matchbox each (1.66 percent), curd (1.43 percent), pulse mash (1.29 percent), milk fresh (1.20 percent), rice irri-6/9 (0.74 percent), rice basmati broken (0.67 percent), mustard oil (0.59 percent), tea prepared (0.56 percent), long cloth 57″ Gul ahmed/Al Karam (0.51 percent), mutton (0.40 percent), beef with bone (0.39 percent), toilet soap (0.24 percent), powdered milk Nido 390 gm polybag each (0.13 percent), georgette (0.08 percent) and cooked daal (0.04 percent).
The items, which recorded a decrease in their average prices during the week over the previous include bananas (7.51 percent), chicken (2.80 percent), eggs (1.17 percent), LPG (0.96 percent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.74 percent), cooking oil Dalda or other similar brands (sn), 5 liter tin each (0.72 percent), vegetable ghee Dalda/Habib or other superior quality 1 kg pouch each (0.81 percent), pulse masoor (0.47 percent), pulse moong (0.31 percent) and pulse gram (0.24 percent).
