The Weekly Sensitive Price Indicator (SPI) for the Combined Group experienced a significant year-on-year increase of 42.68% during the week ending December 07, 2023. Moreover, on a week-on-week basis, the SPI rose by 1.16% compared to the previous week.
This marks the fourth consecutive week where the yearly SPI has remained above the 40% threshold, a trend attributed to a notable surge in gas prices. According to data released by the Pakistan Bureau of Statistics (PBS), the Combined Index stood at 311.78 on December 07, 2023, compared to 308.2 on November 30, 2023, and 218.52 a year ago on December 08, 2022.
Among the 51 items surveyed, 15 items saw an increase in average prices, 14 items decreased, and 22 items remained stable.
Notable price increases during the week were observed in Onions (8.42%), Energy saver (3.02%), Eggs (2.52%), Electricity Charges for Q1 (2.03%), and Pulse Moong (0.88%). Conversely, major price hikes were noted in Tomatoes (9.82%), Potatoes (4.34%), Chicken (2.99%), Tea Lipton (2.58%), and Diesel (2.31%).
Analyzing the weekly SPI percentage change by income groups revealed a decrease across all 2 quantiles, while an increase was observed across 3 quantiles. The Lowest Income Group experienced a weekly decline of -0.17%, whereas the highest income group recorded an increase of 1.65%.
On a yearly basis, the analysis of SPI change across different income segments indicated an increase ranging between 34.79% and 46.37% across all quantiles. The yearly SPI for the Lowest Income Group rose by 34.79%, and the highest income group recorded an increase of 41.11%.
Specifically, the average price of Sona urea was Rs4,267 per 50 kg bag, marking a 2.48% increase from the previous week and a substantial 67.72% increase compared to the prices of the previous year. Meanwhile, the average Cement price was recorded at Rs1,244 per 50 kg bag, reflecting a 0.35% increase from the previous week and a 19.88% increase compared to prices from the previous year.
