The Weekly Sensitive Price Indicator (SPI) has fallen for the fifth consecutive week, decreasing by 1.06% compared to the previous week.
This decline comes as a relief after months of soaring prices and signals a potential trend of decreasing inflation.
According to data released by the Pakistan Bureau of Statistics (PBS), the Combined Index stood at 309.25, down from 312.56 the previous week. Compared to the same period last year, the SPI has risen by 21.22%, indicating that prices are still higher than they were a year ago.
The decline in SPI was driven by a decrease in prices of essential items such as tomatoes (31.18%), onions (21.84%), garlic (7.76%), petrol (5.32%), and wheat flour and LPG (3.66%). These decreases have provided some relief to consumers, who have been struggling to make ends meet due to high prices.
However, some items such as cooked daal (1.96%), shirting (1.74%), potatoes (1.46%), beef (1.11%), and mutton (1.04%) saw an increase in prices. This highlights the ongoing volatility in the market and the need for continued monitoring and regulation.
The SPI decrease was observed across all income groups, with the lowest income group experiencing a weekly fall of 1.17% and the highest income group experiencing a fall of 1.06%.
On a yearly basis, the SPI increase was seen across all income segments, ranging from 14.54% to 24.58%. The lowest income group saw a yearly increase of 14.54%, while the highest income group saw an increase of 19.07%.
