In the most recent economic assessment, the Weekly Sensitive Price Indicator (SPI) for the Combined Group saw a modest 0.06% decline week on week (WoW), concluding the week ending December 14, 2023.
However, a significant year-on-year increase of 43.16% in the SPI indicates notable shifts in pricing dynamics compared to the corresponding period last year.
According to data released by the Pakistan Bureau of Statistics (PBS), the combined index slightly decreased to 311.58 from 311.78 recorded on December 7, 2023. Contrasting with figures from a year ago on December 15, 2022, the index has surged from 217.64.
Among the 51 items considered, 19 experienced a rise in average prices, 10 saw a decline, and 22 remained stable. Noteworthy decreases were observed in the prices of potatoes (12.18%), tomatoes (5.18%), Lipton tea (2.57%), chicken (1.19%), and rice basmati broken (0.52%) during the week.
Conversely, notable increases were noted in the prices of sugar (6.02%), pulse gram (2.57%), eggs (2.33%), rice IRRI-6/9 (1.54%), and pulse moong (1.23%).
Weekly SPI percentage change across income groups indicated a decrease across all quantiles, ranging between -0.19% and -0.04%.
On an annual basis, SPI changes across different income segments revealed an increase between 35.59% and 46.99%, with the lowest-income group experiencing a 35.59% rise and the highest-income group recording a 41.47% increase.
In commodity highlights, the average price of Sona urea increased by 4% to Rs4,438 per 50 kg bag compared to last week, marking a substantial 75.34% rise from prices recorded last year.
Meanwhile, the average cement price recorded a slight 0.20% decrease from the previous week but reflected a 19.07% increase compared to prices last year.
These fluctuations underscore the dynamic nature of market conditions in the current economic landscape.
