The Sensitive Price Indicator ( SPI ) of Pakistan increased to 0.62 percent in the week before, and 3.57 percent in yearly basis, according to the Pakistan Bureau of Statistics (PBS) report released Friday. The SPI index that traces the cost of basic items indicates increasing pressures of inflation in households.
In the week under review, the prices of 18 products out of the 51 essential products increased, 6 reduced and 27 products did not change. The main products that have been boosting the trend are Tomatoes (14.98%), Wheat Flour (12.11%), Chicken (3.36%), Potatoes (1.52%) and LPG (0.82%). There were also slight increases in Eggs, Cooked Beef, Garlic, Firewood and textiles such as Lawn Printed and Long Cloth.
Conversely, the prices of Pulse Mash (0.43%), Bananas (0.12%), Vegetable Ghee (0.10%), and Onions (0.01%), went down. Ladies Sandals (55.62%), Gas Charges (29.85%) and Sugar (26.91) showed some strong upward trends on an annual basis in addition to Beef (12.99%) and Gur (12.18). In the meantime, significant declines were experienced in Onions (49.31%), Garlic (25.98%), and Potatoes (19.96%).
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Inflation hit the lowest-income group harder, showing a weekly rise of 0.84%, while the wealthiest group saw a 0.51% increase. Annual SPI variation between income classes was 2.61 to 4.18.
Agricultural and construction materials also followed the downward trend, with Sona Urea averaging Rs4,386 per 50kg bag and Cement at Rs1,409 per 50kg bag. The inflation trend in the SPI is indicative of enduring cost pressures, which reflect the need to observe carefully the prices of consumer essentials to protect the household budgets.
Read more: SPI Inflation in Pakistan Hits Consumers Hard This Week
