Weekly inflation increases by 0.96%, annual rate reaches 26.32%

• Weekly SPI increased by 0.96%.
• The annual inflation rate has reached 26.32%.
• Out of 51 items, the average price of 32 items increased.

ISLAMABAD: The inflation rate increased further by 0.96% during the outgoing week ended September 7, while the annual inflation rate has reached the level of 26.32%.

The Bureau of Statistics has released the latest figures, which show the Weekly Sensitive Price Indicator (SPI) for the Combined Group inched up by 0.96% WoW during the week ended September 7, while the SPI increased by 26.32% YoY compared to the corresponding period from last year.

The Combined Index was at 279.87 compared to 277.21 on August 31, 2023, while the index was recorded at 221.55 a year ago, on September 08, 2022.

Out of 51 items, the average price of 32 items increased, 5 items decreased, and 14 items remained stable.

The prices of tomatoes increased by Rs 15 per kg, lentils Rs 32 per kg, sugar Rs 11.48 per kg, garlic Rs 20, moong dal Rs 9.73, Dal mash Rs 15.48 , onions Rs 3, Jaggery (gur) by Rs 8, and broken rice Rs 3 per kg.

The price of domestic LPG cylinder has become expensive by Rs 153. The price of a 20 kg bag of flour increased by Rs6. Fresh milk, potatoes, eggs, yogurt and bananas have also become more expensive in recent weeks, according to the latest figures.

In the outgoing week, the price of live chicken has become cheaper by Rs. 13 per kg, 190 gram tea packet by Rs. 2.38. The price of 5-kg cooking oil box has become Rs 31, and 2.5-kg box has become cheaper by Rs 7.

The average price of urea stood at Rs3,842 per 50 kg bag which is 0.97% higher than last week’s price and 57.97% higher when compared to last year. The average Cement price was recorded at Rs1,191 per 50 kg bag, which is 1.21% higher than the previous week and 14.56% higher than prices last year.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 0.77% and 1.06%. The Lowest Income Group witnessed a weekly increase of 0.77% while the highest income group recorded an increase of 1.06%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 23.86% and 29.41%. Yearly SPI for the Lowest Income Group increased by 26.41% while the highest income group recorded an increase of 27.30%.

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