KARACHI: The data issued by the Pakistan Bureau of Statistics (PBS) shows that Pakistan bogged down in the vortex of further inflation. The Sensitive Price index (SPI) measured a 30.60% surge on a year-on-year basis on the first week of January.
According to the data shared by PBS, the year-on-year trend depicts an increase of 30.60%, where Onions (501.23%), Chicken (82.50%), Tea Lipton (65.41%), Diesel (60.63%), Eggs (50.51%), Salt Powdered (49.50%), Petrol (48.21%), Pulse Moong (46.99%), Rice Basmati Broken (46.17%), Bananas (45.64%), Wheat Flour (45.35%) and Rice Irri-6/9 (43.11%) price goes up, while the prices of Chilli Powdered (22.98%), Electricity for Q1 (13.96%) and Gur (1.11%) were declined.
A Sensitive Price Indicator (SPI) is computed on weekly basis, to assess the price movement of essential commodities at a shorter interval of time to review the price situation in the country.
SPI comprises 51 essential items, collected from 50 markets in 17 cities of the country.
During the first week of January, out of 51 items, prices of 23 (45.10%) items increased, 09 (17.65%) items decreased, and 19 (37.25%) items are remained stable.
The SPI for the current week ended on 5th January 2023, recorded an increase of 1.09%.
The year-on-year trend shows that onions became the most expensive commodities, jumping in price by as much as 501.23%.
The second was chicken which jumped by 82.5%.
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