SPI Inflation Increases by 3.97% Year-on-Year: PBS Data for Week Ending January 2, 2024
According to the Pakistan Bureau of Statistics (PBS), the Sensitive Price Index (SPI) based inflation for the week ending January 2, 2024, has risen by 3.97% on a year-on-year basis.
Key Drivers of Year-on-Year Inflation
The increase in SPI inflation is primarily driven by rising prices of essential items, including:
- Tomatoes: +77.84%
- Ladies Sandal: +75.09%
- Potatoes: +66.63%
- Pulse Gram: +47.53%
- Pulse Moong: +30.73%
- Powdered Milk: +25.62%
- Beef: +23.94%
- Garlic: +17.82%
- Gas Charges for Q1: +15.52%
- Cooked Daal: +15.10%
- Shirting: +14.36%
- Firewood: +13.18%
Read More: Weekly Inflation Records a Modest Decline
Items with Decreased Prices
In contrast, some items experienced a significant drop in prices:
- Wheat Flour: -36.12%
- Onions: -29.95%
- Chilies Powder: -20.00%
- Eggs: -15.78%
- Electricity Charges for Q1: -13.92%
- Pulse Masoor: -11.24%
- Rice Basmati Broken: -8.42%
- Diesel: -6.39%
- Bread: -6.01%
- Pulse Mash: -5.98%
- Petrol: -5.45%
Week-on-Week Trends
On a week-on-week basis, SPI-based inflation decreased by 0.26% due to price reductions in the following items:
- Tomatoes: -13.48%
- Electricity Charges for Q1: -7.48%
- Potatoes: -5.59%
- Pulse Gram: -0.34%
- Eggs: -0.23%
- Garlic: -0.21%
- LPG: -0.18%
- Wheat Flour: -0.09%
- Pulse Mash: -0.05%
Overall Price Movement
During the week, out of 51 items, 17 items (33.33%) saw price increases, 10 items (19.61%) experienced price decreases, and 24 items (47.06%) had stable prices.
This data reflects the ongoing fluctuations in commodity prices, particularly affecting essential items, and gives an insight into the broader inflationary trends in Pakistan’s economy.
