In the week concluding on November 30, 2023, the Weekly Sensitive Price Indicator (SPI) for the Combined Group in Pakistan witnessed a considerable year-on-year (YoY) increase of 41.05%, maintaining levels above the 40% threshold for the third consecutive week.
This surge was primarily attributed to a significant rise in gas prices. However, there was a slight week-on-week (WoW) decline of 0.23% compared to the preceding week.
According to data released by the Pakistan Bureau of Statistics (PBS), the combined index was 308.2, slightly lower than the 308.9 recorded on November 23, 2023. A year ago, on December 1, 2022, the index was notably lower at 218.51.
Among the 51 monitored items, the average price of 13 items increased, 14 items witnessed a decrease, and 24 items remained stable.
Significant increases were observed in the prices of tomatoes (17.64%), potatoes (5.11%), chicken (3.58%), sugar (2.01%), and Lipton tea (1.29%).
Conversely, notable decreases were noted in the prices of onions (18.25%), bananas (2.84%), garlic (2.35%), pulse gram (1.09%), and pulse masoor (0.72%).
The weekly SPI percentage change across income groups displayed a uniform decrease, ranging between -0.26% and -0.21%, with both the lowest and highest income groups experiencing a weekly decline of -0.23%.
On an annual basis, analysis of SPI change across different income segments revealed an increase ranging between 35.02% and 45%.
The lowest-income group witnessed a YoY increase of 35.02%, while the highest-income group recorded an increase of 38.83%.
The average price of Sona urea was Rs4,164 per 50 kg bag, reflecting a 3.81% increase from last week and a substantial 65.97% surge compared to the previous year.
Simultaneously, the average cement price was Rs1,240 per 50 kg bag, marking a 1% increase from the previous week and a significant 19.10% rise compared to prices last year.