Pakistan's weekly inflation stays above 41pc

ISLAMABAD: Pakistan’s weekly inflation, as measured by the Sensitive Price Indicator (SPI), remained above 41 percent, in the week ending on November 23, the Pakistan Bureau of Statistics (PBS) data showed Friday.

The SPI surged back above the 40% mark, to clock in at 41.13% YoY compared to the corresponding period from last year.

It is important to mention that last week, SPI for the combined group skyrocketed by 9.95% WoW on the back of the gas price hike during the week.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 308.90 compared to 309.09 on November 16, 2023, while the index was recorded at 218.87 a year ago, on November 24, 2022.

Out of 51 items, the average price of 18 items increased, 12 items decreased, and 21 items remained stable.

The major increase was observed in the prices of Garlic (4.61%), Onion (2.42%), Chicken (1.81%), Potatoes (1.69%) and Pulse Masoor (1.01%).

On the other hand, a major decrease was observed in the prices of Tomatoes (5.78%), Vegetable Ghee 2.5 KG (1.36%), Cooking Oil 5 Litre (1.31%), Banana (0.91%), and Vegetable Ghee 1 KG (0.82%).

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.02% and 0.18%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 34.87% and 38.98%.