Business

Pakistan’s Inflation Down 4th Week in a Row

The Sensitive Price Index (SPI)-based inflation for the week ended on May 9, 2024, decreased by 1.39 percent due to decline in the prices of onions (19.22 percent), chicken (18.83 percent), wheat flour (4 percent), LPG (3.67 percent), bananas (2.32 percent), garlic (1.44 percent), rice basmati broken (0.75 percent), mustard oil & sugar (0.48 percent) each, says Pakistan Bureau of Statistics (PBS).

Pakistan’s Weekly SPI is down 4th week in a row; down 1.39 percent WoW for the week ending May 09, 2024. On YoY basis it has fallen to 22.3 percent after 100 weeks, according to Topline Securities.

The year-on-year trend depicts an increase of 22.32 percent mainly due to an increase in the prices of gas charges for q1 (570.00 percent), onions (118.58 percent), tomatoes (101.24 percent), garlic (72.38 percent), chilies powder (71.96 percent), salt powder (32.59 percent), energy saver (29.83 percent), shirting (29.71 percent), gents sandal (25.01 percent), pulse mash (23.70 percent), beef (23.30 percent) and tea prepared (20.08 percent) while a decrease is observed in the prices of bananas (38.79 percent), wheat flour (28.21 percent), chicken (20.27 percent), cooking oil 5 liter (19.74 percent), vegetable ghee 2.5 kg (16.73 percent), vegetable ghee 1 kg (16.67 percent), mustard oil (13.11 percent), LPG (10.52 percent), eggs (7.91 percent) and diesel (2.04 percent).

During the week, out of 51 items, prices of 12 (23.53 percent) items increased, 13 (25.49 percent) items decreased and 26 (50.98 percent) items remained stable.

The SPI for the week under review was recorded at 312.56 points against 316.95 points registered in the previous week, according to the PBS data released on Friday.

The SPI for the consumption group up to Rs. 17,732, Rs. 17,732-Rs. 22,888, Rs. 22,889-Rs. 29,517, Rs. 29,518-Rs. 44,175 and above Rs. 44,175 decreased by 0.99 percent, 1 percent, 1.35 percent, 1.49 percent, and 1.53 percent respectively.

The items, prices of which, increased during the period under review include tomatoes (19.24 percent), eggs (4.73 percent), potatoes (4.38 percent), pulse gram (0.91 percent), cooking oil dalda or other similar brands (sn), 5-liter tin each (0.89 percent), beef with bone (0.64 percent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.44 percent), milk fresh (0.41 percent),  pulse moong (0.14 percent), vegetable ghee Dalda/Habib or other superior quality 1 kg pouch each (0.10 percent), pulse mash (0.07 percent) and mutton (0.05 percent).

The items, prices of which, declined during the period under review include onions (19.22 percent), chicken (18.83 percent), wheat flour bag 20 kg (4 percent), LPG (3.67 percent), bananas (2.32 percent), garlic (1.44 percent), rice basmati broken (0.75 percent), mustard oil (0.48 percent), sugar (0.48 percent), gur (0.44 percent), pulse masoor (0.26 percent), firewood whole 40 kg (0.23 percent) and rice irri-6/9 (0.01 percent).

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ProPK Staff