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Aftab Maken
ISLAMABAD: The short-term inflation registered a modest decline, with the Sensitive Price Indicator (SPI) falling by 0.33% for the week ended April 23, according to data released by the Pakistan Bureau of Statistics.
The SPI, which monitors the prices of 51 essential commodities across 50 markets in 17 cities, showed a weekly decrease mainly due to a drop in prices of key food items and fuel.
According to the data, tomatoes recorded the sharpest decline, falling by 27.65%, followed by onions (9.35%), diesel (8.35%), LPG (7.08%), and garlic (4.27%). Prices of wheat flour, sugar, bananas, and mustard oil also witnessed slight decreases during the week.
However, some items registered price increases. Potatoes rose by 3.13%, bread by 0.91%, washing soap by 0.85%, and cooking oil (5-litre pack) by 0.69%. Prices of eggs, mutton, chicken, and vegetable ghee also increased marginally.
Out of the 51 items tracked, 19 items (37.25%) recorded an increase in prices, 9 items (17.65%) declined, while 23 items (45.10%) remained unchanged.
On a year-on-year basis, inflationary pressure remained significant, with the SPI rising by 13.98% compared to the same period last year. Major contributors to the annual increase included electricity charges (up 54.02%), LPG (50.68%), petrol (44.10%), diesel (36.76%), and wheat flour (36.06%).
On the other hand, potatoes provided notable relief, with prices dropping by 47.38% year-on-year. Other items such as pulse gram, salt powder, and sugar also recorded annual declines.
Analysts say the weekly decline in inflation is a positive signal, but the elevated annual rate indicates that overall price pressures persist. The full impact across different income groups will become clearer with the release of detailed data.
The PBS releases the SPI on a weekly basis to provide an early indication of price trends in the country.
