According to the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI)-based inflation for the week ending July 6, 2023, increased by 28.55 percent on a year-over-year (YoY) basis.
This is the lowest percentage since SPI inflation registered at 27.1 percent on October 20, 2022, according to Topline Securities.
Pakistan’s weekly inflation (SPI) has dropped to 29% for the week ending July 06, 2023, which is the lowest since Oct 20, 2022. pic.twitter.com/FBt2O8Mmjm
— Topline Securities (@toplinesec) July 7, 2023
Inflation and Its Impacts
The SPI rose by 0.7 percent for the week ending July 6, 2023, as a result of higher prices for food items like tomatoes (42.25%), onions (8.70%), potatoes (4.79%), wheat flour (4.05%), gur (4.01%), sugar (3.48%), and non-food items like shirting (3.02%) and diesel (2.95%).
The YoY increase is mainly due to an increase in the prices of wheat flour (121.69 percent), cigarettes (112.94 percent), gas charges for q1 (108.38 percent), tea lipton (102.86 percent), rice basmati broken (77.40 percent), rice irri-6/9 (74.61 percent), potatoes (69.06 percent), chicken (63.22 percent), gents sponge chappal (58.05 percent), salt powdered (51.61 percent), sugar (50.08 percent), bananas (48.96 percent) and bread (46.86 percent).
Electricity for the first quarter is down 14.58 percent, tomatoes are down 13.26 percent, pulse masoor is down 7.17 percent, diesel is down 5.82 percent, and vegetable ghee per kilogram is down 0.81 percent. Onions are down 23.94 percent.
Out of 51 items, 24 (47.06 percent) saw price increases during the week, 10 (19.61 percent) saw price decreases, and 17 (33.33 percent) saw constant prices.
The items, which recorded an increase in their average prices during the week over the previous include tomatoes (42.25 percent), onions (8.70 percent), potatoes (4.79 percent), wheat flour bag 20 kg (4.05 percent), gur (4.01 percent), sugar (3.48 percent), shirting (3.02 percent), hi-speed diesel (2.95 percent), garlic (1.90 percent), matchbox each (1.66 percent), curd (1.43 percent), pulse mash (1.29 percent), milk fresh (1.20 percent), rice irri-6/9 (0.74 percent), rice basmati broken (0.67 percent), mustard oil (0.59 percent), tea prepared (0.56 percent), long cloth 57″ Gul ahmed/Al Karam (0.51 percent), mutton (0.40 percent), beef with bone (0.39 percent), toilet soap (0.24 percent), powdered milk Nido 390 gm polybag each (0.13 percent), georgette (0.08 percent) and cooked daal (0.04 percent).
The items, which recorded a decrease in their average prices during the week over the previous include bananas (7.51 percent), chicken (2.80 percent), eggs (1.17 percent), LPG (0.96 percent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.74 percent), cooking oil Dalda or other similar brands (sn), 5 liter tin each (0.72 percent), vegetable ghee Dalda/Habib or other superior quality 1 kg pouch each (0.81 percent), pulse masoor (0.47 percent), pulse moong (0.31 percent) and pulse gram (0.24 percent).
To read our blog on “Inflation in Pakistan ease down for first time in 7 months,” click here.
