: Pakistan’s Sensitive Price Index (SPI) inflation rate fell to its lowest level in six and a half years, rising by just 1.16% year-on-year (YoY) for the week ending January 16, 2024. This data was shared by the Pakistan Bureau of Statistics (PBS) and analyzed by Topline Securities.
Year-on-year inflation reflects rising prices of basic commodities, including potatoes (up 47.91%), chickpeas (39.77%), legume meat (33.40%), milk powder (25.77%), and beef (22.59%). Other notable increases were observed in the prices of vegetable ghee (16.34%), gas charges (15.52%), cooked dal (15.43%), garlic (15.27%), shirt fabric (14.83%) and firewood (13.02%).
On the other hand, the prices of onions (a decrease of 47.22%), flour (35.89%), eggs (31.92%), ground hot pepper (20%), tomatoes (19.83%), and electricity fees for the first quarter (18.11%) recorded a noticeable decrease. %). Other declines included: crushed pulses (11.10%), crushed pulses (9.20%), crushed basmati rice (8.90%), diesel (5.47%), petrol (1.18%).
On a weekly basis, index inflation decreased by 0.39%, mainly due to lower prices of tomatoes (down 18.31%), potatoes (10.42%), onions (10.01%), eggs (8.64%), and chicken (2.17%). And eggs (8.64%). LPG (1.21%). Smaller decreases were also observed in mash pulse (0.81%), mustard oil (0.67%), and garlic (0.54%).
Of the 51 items tracked during the week, prices for 21 items (41.18%) increased, 10 items decreased (19.61%), while prices for 20 items (39.21%) remained stable.
This decline in SPI inflation provides some relief to consumers amid ongoing economic challenges, highlighting the upward and downward trends in commodity prices across the country.