Weekly Inflation Observes Biggest Weekly Gain Since October 2022

The Sensitive Price Indicator (SPI)-based inflation for the week ended July 26, 2023, increased by 3.73 percent due to an increase in the prices of food items, chilies powder (28.98 percent), tomatoes (19.71 percent), eggs (4.77 percent), garlic (3.09 percent) and non-food items, electricity charges for q1 (20.98 percent), and LPG (4.12 percent), according to Pakistan Bureau of Statistics (PBS).

According to Arif Habib Limited (AHL), this is the highest week-on-week increase since October 27th, 2022.

The Sensitive Price Index (SPI) for the week ended 26-Jul-2023 recorded an increase of 29.21% YoY | 3.73% WoW (Highest WoW increase since 27-Oct-2022).@PBSofficialpak @StateBank_Pak #PBS #Inflation #Pakistan #Economy #AHL pic.twitter.com/CnGjdj0JIM

— Arif Habib Limited (@ArifHabibLtd) July 27, 2023

The year-on-year trend depicts an increase of 29.21 percent mainly due to an increase in the prices of wheat flour (132.36 percent), cigarettes (110.75 percent), gas charges for q1 (108.38 percent), tea Lipton (97.71percent), rice basmati broken (79.60 percent), rice irri-6/9 (73.23 percent), sugar (63.72percent), potatoes (62.65 percent), tomatoes (60.50percent), gents sponge chappal (58.05 percent), gur (57.57 percent), chilies powder (55.00 percent) and chicken (54.52percent), while a decrease is observed in the prices of onions (25.53 percent), electricity for q1 (18.06 percent), pulse masoor (11.49 percent), LPG (3.75 percent) and vegetable ghee 1 kg (0.77 percent).

The SPI for the week under review was recorded at 268.08 points against 258.45 points registered in the previous week, according to the PBS data released on Thursday.

During the week, out of 51 items, prices of 20 (39.22 percent) items increased, 07 (13.73 percent) items decreased and 24 (47.05 percent) items remained stable.

The SPI for the consumption group up to Rs. 17,732, Rs. 17,732-Rs. 22,888, Rs. 22,889-Rs. 29,517 and Rs. 29,518-Rs. 44,175 and for above Rs. 44,175 consumption group increased by 2.49 percent, 1.69 percent, 3.61 percent, 4.02 percent, and 3.87 percent respectively.

The items which recorded an increase in their average prices during the week over the previous include chilies powder national 200 gm packet each (28.98 percent), electricity charges for q1 per unit (20.98 percent), tomatoes (19.71 percent), eggs (4.77 percent), LPG (4.12 percent), garlic (3.09 percent), onions (2.58 percent), gur (2.18 percent), potatoes (2.09 percent), chicken (1.77), rice basmati broken (1.34 percent), salt powdered (1.08 percent), pulse gram (0.54 percent), curd (0.44 percent), pulse mash (0.31 percent), pulse masoor (0.31 percent), Sufi washing soap (0.23 percent), milk fresh (0.20 percent), powdered milk Nido 390 gm polybag each (0.17 percent) and rice irri-6/9 (0.02 percent).

The items which recorded a decrease in their average prices during the week over the previous include bananas (5.36 percent), sugar (1.15 percent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.93 percent), cooking oil Dalda or other similar brands (sn), 5-liter tin each (0.89 percent), vegetable ghee Dalda/Habib or other superior quality 1 kg pouch each (0.72 percent), wheat flour bag 20 kg (0.17 percent) and pulse moong (0.16 percent).