Thursday, July 4, 2024 05:38 PM
Pakistan SPI Drops 0.34% Weekly; Year-on-Year Increase 21.31%
- Weekly inflation decreases by 0.34% for all consumption groups.
- SPI stands at 308.19 points, down from the previous week.
- Year-on-year SPI shows a significant 21.31% increase for all groups.
Image Credits: urdupointThe latest data from Pakistan's PBS shows a 0.34% weekly inflation drop, with SPI at 308.19 points. Year-on-year, there's a notable 21.31% increase. Price fluctuations in essential items impact consumer decisions and expense management.
The latest data from the Pakistan Bureau of Statistics (PBS) reveals that the weekly inflation, measured by the Sensitive Price Indicator (SPI), has dropped by 0.34% for all consumption groups in the week ending on May 23. The SPI, which covers 17 urban centers and 51 essential items, stood at 308.19 points during this period, showing a decrease from the previous week's 309.25 points. However, compared to the same week last year, there was a significant 21.31% increase in the SPI for all consumption groups.
During this week, prices for various essential items fluctuated. Items like garlic, chicken, and wheat flour experienced a decrease in prices, while items such as beef and energy savers saw a rise in prices. On a year-on-year basis, prices for bananas, wheat flour, and chicken notably decreased, whereas items like gas charges and onions witnessed a noticeable increase in prices.
Understanding the fluctuations in weekly inflation rates is crucial for consumers to make informed decisions about their purchases. While some essential items have become more affordable, others have experienced price hikes. It is essential for individuals to stay updated on these changes to manage their expenses effectively.
