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Short-term inflation eases by 1.39 percent during this week

Short-term inflation eases by 1.39 percent during this week
May 10, 2024 Web Desk

ISLAMABAD (APP) - The weekly inflation measured by the Sensitive Price Indicator (SPI), witnessed a decrease of 1.39 per cent for the combined consumption groups during the week ended on May 9, the Pakistan Bureau of Statistics (PBS) reported on Friday.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 312.56 points as compared to 316.95 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 22.32 per cent.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups. The SPI for the lowest consumption group up to Rs17,732, decreased by 0.99 per cent and went down to 303.24 points from last week’s 306.26  points.

The SPI for consumption groups from Rs17,732-22,888, Rs22,889-29,517; Rs29,518-44,175 and above Rs44,175, decreased by 1.00 percent, 1.35 percent, 1.49 and 1.53 percent respectively.

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

The items, which recorded a decrease in their average prices on a week-on-week basis included onions (19.22%), chicken (18.83%), wheat flour (4.00%), LPG (3.67%), bananas (2.32%), garlic (1.44%), rice basmati broken (0.75%), mustard oil & sugar (0.48%) each, and firewood (0.23%).

The commodities which recorded an increase in their average prices on week-on-week basis included tomatoes (19.24%), eggs (4.73%), potatoes (4.38%), pulse gram (0.91%), cooking oil 5 litre (0.89%), beef (0.64%), vegetable ghee 2.5 kg (0.44%) and milk fresh (0.41%).

On Year-on-Year basis, the commodities that witnessed decrease included bananas (38.79%), wheat flour (28.21%), chicken (20.27%), cooking oil 5 litre (19.74%), vegetable ghee 2.5 kg (16.73%), vegetable ghee 1 kg (16.67%), mustard oil (13.11%), LPG (10.52%), eggs (7.91%) and diesel (2.04%).

The commodities which recorded an increase in their average prices on year-on-year basis included gas charges for q1 (570.00%), onions (118.58%), tomatoes (101.24%), garlic (72.38%), chilies powder (71.96%), salt powder (32.59%), energy saver (29.83%), shirting (29.71%), gents sandal (25.01%), pulse mash (23.70%), beef (23.30%) and tea prepared (20.08%).