Weekly inflation in Pakistan continues downward trend

• During the week under review, average prices of 19 essential items rise during the outgoing week.
• On a year-on-year basis, the SPI inflation records an increase of 18.58%.
• SPI for the lowest income group decrease by 0.14%.

ISLAMABAD: In line with the trend since the last two weeks, Pakistan’s weekly inflation based on the sensitive price index (SPI) slightly declined by 0.07% during the week that ended on December 9.

Meanwhile, on a year-on-year basis, the SPI inflation recorded an increase of 18.58%.

The combined income group index went down from 167.36 points during the week that ended on December 2 to 167.24 points in the week under review.

According to the provisional figures released by the Pakistan Bureau of Statistics (PBS), the average prices of 19 essential items, including bananas, pulses, onions, matchbox etc., rose during the outgoing week.

Prices of nine items, including tomatoes, chicken, potatoes, sugar and LPG declined. Meanwhile, the rates of 23 essential goods remained unchanged.

The bureau, in its weekly report, said that among food items, the price of bananas increased by 3.34%. Meanwhile, prices of pulses increased within a range of 2-3.5%.

Among non-food items, prices of washing soap (250 grams) and matchbox rose nearly 2% respectively.

During the week under review, the price of tomatoes dropped by 13.37%, while the price of chicken decreased by over 10%. Other items that recorded a decline included potatoes, sugar, and eggs recorded a decrease.

The SPI for the lowest income group decreased by 0.14% compared to the previous week. The index for the group stood at 176.52 points against 176.77 points in the previous week.