Weekly inflation Pakistan 14th March 2024, Sensitive Price Indicator (SPI), Prices of basic commodities
Overview
The SPI for the week ending on March 14, 2024, witnessed a rise of 1.35% over the previous week. Significant increases were recorded in the prices of Tomatoes (21.96%), Bananas (21.76%), Eggs (7.15%), Onions (5.57%), LPG (4.45%), Garlic (3.62%), Mutton (1.74%), Beef (1.53%), Chicken (1.40%), Georgette (1.04%), Shirting (1.01%), and Long Cloth (0.94%).
Conversely, notable decreases were observed in the prices of Cooking Oil 5 Litre (1.08%), Vegetable Ghee 2.5 Kg (1.07%), Wheat Flour (0.95%), Sugar (0.64%), Gur (0.57%), Rice Basmati Broken (0.50%), Pulse Masoor (0.17%), and Pulse Mash (0.15%).
During the week, prices of 18 out of 51 items (35.29%) increased, while prices of 10 items (19.61%) decreased, and prices of 23 items (45.10%) remained stable.
The Sensitive Price Indicator, A pivotal indicator for the measure of prices of basic commodities in Pakistan
The Pakistan Bureau of Statistics (PBS) calculates this vital economic measure by gathering data on 51 essential commodities from 17 cities across Pakistan. The PBS assumes a central role in collecting data on the average prices of these specified items and issues a weekly report, offering valuable insights through both week-on-week (WoW) and year-on-year (YoY) comparisons of prices. This detailed report provides valuable insights into inflation trends and price shifts in crucial commodities across the nation.
By monitoring the Sensitive Price Index (SPI), policymakers, businesses, and consumers can develop a clear understanding of the current economic conditions. The weekly updates of the SPI enable the assessment of inflation rates and their effects on citizens’ cost of living. Additionally, it empowers stakeholders to make informed decisions regarding fiscal and monetary policies, thus ensuring economic stability and sustainable growth.
The accurate measurement and consistent reporting of the SPI by the Pakistan Bureau of Statistics serve as essential tools for gauging the economy’s well-being and managing price stability. By tracking fluctuations in the prices of essential commodities, the SPI aids in formulating effective strategies to alleviate inflationary pressures and maintain affordability for necessary goods, ultimately benefiting the population at large.
An Overview of weekly inflation Pakistan based on SPI Report Issued by PBS for the Week Ending On 14th March 2024
The SPI for the week ending on 14th of March 2024 observed an increase of 1.35% over the previous week’s index
Increase in Prices
During the week, prices of 18 items increased over the previous week’s prices. The detail with prices and comparison with corresponding week of last year is given in the table below:-
| Average prices of the following 18 items Increased | |||||||
|---|---|---|---|---|---|---|---|
| Sr No | Items | Units | Prices in Rs as on | % Change Over | % Change Over | ||
| 14-03-24 | 7/3/2024 | 16-03-23 | 7/3/2024 (WoW) | 16-03-23 (YoY) | |||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 1 | Tomatoes | 1 Kg | 166.58 | 136.59 | 58.31 | 21.96 | 185.68 |
| 2 | Bananas (Kela) Local | 1 Dozen | 187.22 | 153.76 | 194.89 | 21.76 | -3.94 |
| 3 | Eggs Hen (Farm) | 1 Dozen | 277.11 | 258.63 | 239.16 | 7.15 | 15.87 |
| 4 | Onions | 1 Kg | 251.58 | 238.3 | 132.22 | 5.57 | 90.27 |
| 5 | LPG 11.67 kg Cylinder | Each | 3446.78 | 3300.07 | 3379.3 | 4.45 | 2 |
| 6 | Garlic (Lehsun) | 1 Kg | 617.15 | 595.6 | 385.4 | 3.62 | 60.13 |
| 7 | Mutton (Average Quality) | 1 Kg | 1806.66 | 1775.8 | 1477.08 | 1.74 | 22.31 |
| 8 | Beef with Bone (Average Quality) | 1 Kg | 879.08 | 865.86 | 707.96 | 1.53 | 24.17 |
| 9 | Chicken Farm Broiler (Live) | 1 Kg | 428.85 | 422.91 | 403.79 | 1.4 | 6.21 |
| 10 | Georgette (Average Quality) | 1 mtr | 267.84 | 265.09 | 222.09 | 1.04 | 20.6 |
| 11 | Shirting (Average Quality) | 1 mtr | 424.88 | 420.62 | 330.17 | 1.01 | 28.69 |
| 12 | Long Cloth 57" Gul Ahmed/Al Karam | 1 mtr | 579.46 | 574.09 | 491.44 | 0.94 | 17.91 |
| 13 | Potatoes | 1 Kg | 70.12 | 69.47 | 52.21 | 0.94 | 34.3 |
| 14 | Lawn Printed Gul Ahmed/Al Karam | 1 mtr | 563.83 | 558.92 | 505.9 | 0.88 | 11.45 |
| 15 | Mustard Oil (Average Quality) | 1 Kg | 501.07 | 498.73 | 591.33 | 0.47 | -15.26 |
| 16 | Pulse Moong (Washed) | 1 Kg | 312.76 | 311.77 | 281.81 | 0.32 | 10.98 |
| 17 | Cooked Daal at Average Hotel | Per Plate | 145.01 | 144.94 | 121.65 | 0.05 | 19.2 |
| 18 | Cooked Beef at Average Hotel | Per Plate | 276.39 | 276.24 | 233.25 | 0.05 | 18.5 |
Decrease in Prices
The prices of 10 items decreased during the week. The detail with prices and comparison with corresponding week of last year is given in the table below:-
| Average prices of the following 10 items Decreased | |||||||
|---|---|---|---|---|---|---|---|
| Sr No | Items | Units | Prices in Rs as on | % Change Over | % Change Over | ||
| 14-03-24 | 7/3/2024 | 16-03-23 | 7/3/2024 (WoW) | 16-03-23 (YoY) | |||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 1 | Cooking Oil DALDA or Other Similar Brand (SN | Each | 2649.86 | 2678.74 | 3368.53 | -1.08 | -21.33 |
| 2 | Vegetable Ghee DALDA/HABIB 2.5 kg Tin | Each | 1287.11 | 1301.09 | 1567.6 | -1.07 | -17.89 |
| 3 | Wheat Flour Bag | 20 Kg | 2760.62 | 2786.97 | 1817.25 | -0.95 | 51.91 |
| 4 | Sugar Refined | 1 Kg | 145 | 145.93 | 105.77 | -0.64 | 37.09 |
| 5 | Gur (Average Quality) | 1 Kg | 205.9 | 207.09 | 145.7 | -0.57 | 41.32 |
| 6 | Rice Basmati Broken (Average Quality) | 1 Kg | 223.6 | 224.72 | 183.46 | -0.5 | 21.88 |
| 7 | Pulse Masoor (Washed) | 1 Kg | 335.18 | 335.74 | 276.97 | -0.17 | 21.02 |
| 8 | Pulse Mash (Washed) | 1 Kg | 543.43 | 544.23 | 415.03 | -0.15 | 30.94 |
| 9 | Vegetable Ghee DALDA/HABIB or Other superi | Each | 497.99 | 498.57 | 615.69 | -0.12 | -19.12 |
| 10 | Pulse Gram | 1 Kg | 260.28 | 260.31 | 255.62 | -0.01 | 1.82 |
No change in prices
The prices of 23 items remained unchanged during the week. The detail with prices and comparison with corresponding week of last year is given in the table below:-
| Average prices of the following 23 items remained unchanged | |||||||
|---|---|---|---|---|---|---|---|
| Sr No | Items | Units | Prices in Rs as on | % Change Over | % Change Over | ||
| 14-03-24 | 7/3/2024 | 16-03-23 | 7/3/2024 (WoW) | 16-03-23 (YoY) | |||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 1 | Rice IRRI-6/9 (Sindh/Punjab) | 1 Kg | 169.74 | 169.74 | 134.92 | 0 | 25.81 |
| 2 | Bread plain (Small Size) | Each | 114.79 | 114.79 | 101.11 | 0 | 13.53 |
| 3 | Milk fresh (Un-boiled) | 1 Ltr | 185.55 | 185.55 | 160.02 | 0 | 15.95 |
| 4 | Curd (Dahi) Loose | 1 Kg | 217.5 | 217.5 | 185.34 | 0 | 17.35 |
| 5 | Powdered Milk NIDO 390 gm Polybag | Each | 823.47 | 823.47 | 681.81 | 0 | 20.78 |
| 6 | Salt Powdered (NATIONAL/SHAN) 800 gm Pac | Each | 69.23 | 69.23 | 51.39 | 0 | 34.71 |
| 7 | Chilies Powder NATIONAL 200 gm Packet | Each | 400 | 400 | 220.09 | 0 | 81.74 |
| 8 | Tea Lipton Yellow Label 190 gm Packet | Each | 544.71 | 544.71 | 468.11 | 0 | 16.36 |
| 9 | Tea Prepared Ordinary | Per Cup | 59.03 | 59.03 | 47.03 | 0 | 25.52 |
| 10 | Cigarettes Capstan 20'S Packet | Each | 221.8 | 221.8 | 221.91 | 0 | -0.05 |
| 11 | Gents Sandal Bata | Pair | 2299 | 2299 | 1499 | 0 | 53.37 |
| 12 | Gents Sponge Chappal Bata | Pair | 599 | 599 | 379 | 0 | 58.05 |
| 13 | Ladies Sandal Bata | Pair | 799 | 799 | 699 | 0 | 14.31 |
| 14 | Electricity Charges for Q1 | Per Unit | 7.4 | 7.4 | 6.47 | 0 | 14.37 |
| 15 | Gas Charges for Q1 | MMBTU | 1976.5 | 1976.5 | 295 | 0 | 570 |
| 16 | Firewood Whole | 40 Kg | 1190.82 | 1190.82 | 1092.15 | 0 | 9.03 |
| 17 | Energy Saver Philips 14 Watt | Each | 370.4 | 370.4 | 285.29 | 0 | 29.83 |
| 18 | Sufi Washing Soap 250 gm Cake | Each | 128.7 | 128.7 | 117.67 | 0 | 9.37 |
| 19 | Match Box | Each | 6.18 | 6.18 | 5.14 | 0 | 20.23 |
| 20 | Petrol Super | Per Litre | 280.79 | 280.79 | 272.89 | 0 | 2.89 |
| 21 | Hi-Speed Diesel | Per Litre | 288.4 | 288.4 | 293.92 | 0 | -1.88 |
| 22 | Telephone Call Charges | Per Minut | 1.79 | 1.79 | 1.79 | 0 | 0 |
| 23 | Toilet Soap LIFEBUOY 115 gm | Each | 110.39 | 110.39 | 89.74 | 0 | 23.01 |
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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.