The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on July 08, 2021 for the combined consumption group witnessed an increase of 0.07 percent as compared to the previous week while it went 12.28 percent up on a year-on-year (YoY) basis.
According to data released by the Pakistan Bureau of Statistics (PBS) on Friday, the combined index was at 150.03 on July 08, 2021 as compared to 149.93 on July 1, 2021 while the index was recorded at 133.62 a year ago on July 9, 2020.
The SPI is computed on a weekly basis to assess the price movements of essential commodities at a shorter interval of time so as to review the price situation in the country.
The SPI comprises 51 essential items and the prices are being collected from 50 markets in 17 cities of the country.
During the week, out of 51 items, prices of 23 (45.1%) items increased, prices of 09 (17.6%) items decreased while prices of 19 (37.3%) items remained constant.
The SPI for the current week ended on 08th July, 2021 recorded an increase of 0.07% in the prices of tomatoes (11.51%), garlic (8.31%), onions (4.85%), sugar (2.60%), potatoes (2.04%) and eggs (1.67%) with joint impact of (0.40%) into the overall SPI for combined group of (0.07%).
On the other hand decrease in the prices of chicken (12.97%), bananas (3.72%), pulse Moong (1.81%), pulse Mash (0.51%), pulse Masoor (0.34%), wheat flour (0.22%), powdered milk (0.07%), mustard oil and firewood (0.05% each) was observed.
According to the PBS data, the year on year trend depicts increase of 12.28% with most of the items increased mainly electricity for Q1 (61.62%), chillies powder (37.29%), mustard oil (36.48%), gents sandal (33.37%), LPG (30.91%), vegetable ghee 1 kg (27.53%), gents sponge chappal (25.13%), vegetable ghee 2.5kg (24.64), cooking oil Dalda (24.21%)—TLTP