The Sensitive Price Indicator (SPI)
The Sensitive Price Indicator (SPI) for the week ending on 26th July 2023 witnessed a notable increase of 3.73%. This crucial economic indicator is computed by the Pakistan Bureau of Statistics (PBS) through the collection of data for 51 basic commodities across 17 cities in Pakistan.
The PBS plays a pivotal role in gathering data on the average prices of these selected items and issues a weekly report, providing valuable comparisons on both week-on-week (WoW) and year-on-year (YoY) bases. This comprehensive report offers insights into the inflation trends and price movements of essential commodities in the country.
By closely monitoring the Sensitive Price Index, policymakers, businesses, and consumers can gain a clear understanding of the prevailing economic conditions. The SPI’s weekly updates facilitate the evaluation of inflation rates and their impact on the cost of living for citizens. It also helps stakeholders make informed decisions regarding fiscal and monetary policies, ensuring economic stability and sustainable growth.
The SPI’s accurate measurement and regular reporting by the Pakistan Bureau of Statistics serve as crucial tools for assessing the economy’s health and managing price stability. By tracking the fluctuations in the prices of basic commodities, the SPI aids in devising effective strategies to mitigate inflationary pressures and maintain affordability for essential goods, ultimately benefiting the general public.
As per the report on SPI for the week ending on 26th of July 2023, the SPI for the week has increased by 3.73% WoW. An increase is recorded in 20 items, a decrease in 07 items, and no change in prices of 24 items.
Increase in Prices
During the week ending on 26th July 2023, an increase in the average prices of 20 items has been recorded. These include Chilies Powder NATIONAL 200 gm Packet, Electricity Charges for Q1, Tomatoes, Eggs Hen (Farm), LPG 11.67 kg Cylinder, Garlic (Lehsun), Onions, Gur (Average Quality), Potatoes, Chicken Farm Broiler (Live), Rice Basmati Broken (Average Quality), Salt Powdered (NATIONAL/SHAN) 800 gm Pack, Pulse Gram, Curd (Dahi) Loose, Pulse Mash (Washed), Pulse Masoor (Washed), Sufi Washing Soap 250 gm Cake, Milk fresh (Un-boiled), Powdered Milk NIDO 390 gm Polybag and Rice IRRI-6/9 (Sindh/Punjab).
The detail with prices and comparison with the previous week and the corresponding week of last year is given in the table below:-
| Average prices of the following 20 items registered INCREASE during the week | |||||
|---|---|---|---|---|---|
| Sr | Items | Units | Price 26-07-23 | %age Change WoW | %age Change YoY |
| 1 | Chilies Powder NATIONAL 200 gm Packet | Each | 333.24 | 28.98 | 55 |
| 2 | Electricity Charges for Q1 | Per Unit | 7.44 | 20.98 | -18.06 |
| 3 | Tomatoes | 1 Kg | 118.88 | 19.71 | 60.5 |
| 4 | Eggs Hen (Farm) | 1 Dozen | 273.02 | 4.77 | 39.5 |
| 5 | LPG 11.67 kg Cylinder | Each | 2600.29 | 4.12 | -3.75 |
| 6 | Garlic (Lehsun) | 1 Kg | 367.01 | 3.09 | 12.55 |
| 7 | Onions | 1 Kg | 56.16 | 2.58 | -25.53 |
| 8 | Gur (Average Quality) | 1 Kg | 208.43 | 2.18 | 57.57 |
| 9 | Potatoes | 1 Kg | 93.72 | 2.09 | 62.65 |
| 10 | Chicken Farm Broiler (Live) | 1 Kg | 415.43 | 1.77 | 54.52 |
| 11 | Rice Basmati Broken (Average Quality) | 1 Kg | 216.54 | 1.34 | 79.60 |
| 12 | Salt Powdered (NATIONAL/SHAN) 800 gm Pac | Each | 57.05 | 1.08 | 54.27 |
| 13 | Pulse Gram | 1 Kg | 241.42 | 0.54 | 6.65 |
| 14 | Curd (Dahi) Loose | 1 Kg | 208.48 | 0.44 | 33.16 |
| 15 | Pulse Mash (Washed) | 1 Kg | 469.73 | 0.31 | 40.28 |
| 16 | Pulse Masoor (Washed) | 1 Kg | 276.47 | 0.31 | -11.49 |
| 17 | Sufi Washing Soap 250 gm Cake | Each | 127.86 | 0.23 | 32.47 |
| 18 | Milk fresh (Un-boiled) | 1 Ltr | 179.61 | 0.2 | 31.14 |
| 19 | Powdered Milk NIDO 390 gm Polybag | Each | 740.9 | 0.17 | 37.66 |
| 20 | Rice IRRI-6/9 (Sindh/Punjab) | 1 Kg | 155.61 | 0.02 | 73.23 |
Decrease in Prices
During the week, a decrease in 07 items has been recorded that include, Bananas (Kela) Local, Sugar Refined, Vegetable Ghee DALDA/HABIB 2.5 kg Tin, Cooking Oil DALDA or Other Similar Brand, Vegetable Ghee DALDA/HABIB or Other superior brands, Wheat Flour Bag, and Pulse Moong (Washed)
The detail with prices and comparison with the previous week and the corresponding week of last year is given in the table below:-
| Average prices of the following 7 items registered DECREASE during the week | |||||
|---|---|---|---|---|---|
| Sr | Items | Units | Price 26-07-23 | %age Change WoW | %age Change YoY |
| 1 | Bananas (Kela) Local | 1 Dozen | 131.41 | -5.36 | 26.17 |
| 2 | Sugar Refined | 1 Kg | 143.91 | -1.14 | 63.72 |
| 3 | Vegetable Ghee DALDA/HABIB 2.5 kg Tin | Each | 1450.85 | -0.93 | 1.7 |
| 4 | Cooking Oil DALDA or Other Similar Brand (SN | Each | 3094.58 | -0.89 | 6.79 |
| 5 | Vegetable Ghee DALDA/HABIB or Other superi | Each | 562.21 | -0.72 | -0.77 |
| 6 | Wheat Flour Bag | 20 Kg | 2829.9 | -0.17 | 132.36 |
| 7 | Pulse Moong (Washed) | 1 Kg | 263.29 | -0.16 | 35.53 |
Unchanged Prices
No change was recorded in the prices of 24 items that include, Bread plain (Small Size), Beef with Bone (Average Quality), Mutton (Average Quality), Mustard Oil (Average Quality), Tea Lipton Yellow Label 190 gm Packet, Cooked Beef at Average Hotel, Cooked Daal at Average Hotel, Tea Prepared Ordinary, Cigarettes Capstan 20’S Packet, Long Cloth 57″ Gul Ahmed/Al Karam, Shirting (Average Quality), Lawn Printed Gul Ahmed/Al Karam, Georgette (Average Quality), Gents Sandal Bata, Gents Sponge Chappal Bata, Ladies Sandal Bata, Gas Charges upto 3.3719 MMBTU, Firewood Whole, Energy Saver Philips 14 Watt, Match Box, Petrol Super, Hi-Speed Diesel, Telephone Call Charges and Toilet Soap LIFEBUOY 115 gm.
The detail with prices and comparison with the corresponding week of last year is given in the table below:-
| Average prices of the following 24 items remained UNCHANGED | |||||
|---|---|---|---|---|---|
| Sr | Items | Units | Price 26-07-23 | %age Change WoW | %age Change YoY |
| 1 | Bread plain (Small Size) | Each | 107.55 | 0 | 46.37 |
| 2 | Beef with Bone (Average Quality) | 1 Kg | 789.21 | 0 | 16.21 |
| 3 | Mutton (Average Quality) | 1 Kg | 1650.49 | 0 | 18.55 |
| 4 | Mustard Oil (Average Quality) | 1 Kg | 542.55 | 0 | 3.58 |
| 5 | Tea Lipton Yellow Label 190 gm Packet | Each | 558.82 | 0 | 97.71 |
| 6 | Cooked Beef at Average Hotel | Per Plate | 257.65 | 0 | 26.34 |
| 7 | Cooked Daal at Average Hotel | Per Plate | 130.38 | 0 | 25.44 |
| 8 | Tea Prepared Ordinary | Per Cup | 52.64 | 0 | 33.30 |
| 9 | Cigarettes Capstan 20'S Packet | Each | 221.35 | 0 | 110.75 |
| 10 | Long Cloth 57" Gul Ahmed/Al Karam | 1 mtr | 528.99 | 0 | 23.98 |
| 11 | Shirting (Average Quality) | 1 mtr | 375.46 | 0 | 29.09 |
| 12 | Lawn Printed Gul Ahmed/Al Karam | 1 mtr | 530.31 | 0 | 18.66 |
| 13 | Georgette (Average Quality) | 1 mtr | 248.3 | 0 | 24.01 |
| 14 | Gents Sandal Bata | Pair | 1999 | 0 | 33.36 |
| 15 | Gents Sponge Chappal Bata | Pair | 599 | 0 | 58.05 |
| 16 | Ladies Sandal Bata | Pair | 799 | 0 | 14.31 |
| 17 | Gas Charges upto 3.3719 MMBTU | MMBTU | 295 | 0 | 108.38 |
| 18 | Firewood Whole | 40 Kg | 1074.82 | 0 | 27.87 |
| 19 | Energy Saver Philips 14 Watt | Each | 321.86 | 0 | 34.02 |
| 20 | Match Box | Each | 5.58 | 0 | 40.91 |
| 21 | Petrol Super | Per Litre | 253.96 | 0 | 9.87 |
| 22 | Hi-Speed Diesel | Per Litre | 254.5 | 0 | 7.4 |
| 23 | Telephone Call Charges | Per Minu | t 1.79 | 0 | 0 |
| 24 | Toilet Soap LIFEBUOY 115 gm | Each | 107.35 | 0 | 51.82 |
Conclusion
According to the latest weekly inflation update issued by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week ended on 26th July 2023 recorded a significant increase of 3.73%. This SPI, also known as the Sensitive Price Index, serves as a crucial economic indicator, tracking the inflation trends and price fluctuations of essential commodities across 17 cities in Pakistan.
The 3.73% rise in the SPI reflects the impact of inflation in Pakistan, which has implications for the cost of living in the country. Policymakers and economists closely analyze such inflation statistics and economic indicators to ensure economic stability and make informed decisions to manage essential goods prices effectively. The weekly price comparison report provided by PBS plays a vital role in evaluating the overall inflation analysis and helps in devising strategies to mitigate inflationary pressures for the general public’s welfare.
Related Posts
Sensitive Price Index (SPI) for the week ended on 20th July 2023
Pakistan Bureau of Statistics (PBS)
Disclaimer
This post is intended for educational and informational purposes. The team at Fiscal Updates has gathered the data from reliable sources, however, the information provided in this report should not be considered as a reference for any legal document.