Key Takeaways
- Tomato prices declined by 22.96%, leading to a reduction in SPI-based inflation.
- Electricity charges for Q1 saw the largest decrease at 9.06%.
- Onions and diesel prices increased significantly, but overall SPI fell.
The Sensitive Price Index (SPI)-based inflation for the week ending July 30 has recorded a reduction of 0.91 percent compared to the previous week, according to data released by Business Recorder.
This decrease is primarily attributed to a significant drop in tomato prices by 22.96%, chicken by 11.20%, and electricity charges for Q1 by 9.06%.
Other items that experienced price reductions included bananas (0.70%), sugar (0.16%), and pulse moong (0.15%).
However, the prices of onions increased by 7.62%, diesel by 4.17%, eggs by 3.16%, petrol by 2.46%, wheat flour by 2 percent, potatoes by 1.93%, Liquefied Petroleum Gas (LPG) by 1.90%, pulse gram by 1.44%, vegetable ghee (2.5kg) by 0.71%, and pulse masoor by 0.64%.
Out of the 51 items in the SPI basket, prices for 27 items increased, accounting for 52.94 percent; six items decreased, representing 11.77 percent; while 18 items remained stable, making up 35.29 percent.
On a year-on-year (YoY) basis, the SPI recorded an increase of 9.05%, driven by sharp rises in tomatoes (228.71%), onions (95.36%), wheat flour (78.65%), LPG (51.76%), diesel (37.42%), petrol (23.28%), and others.
Conversely, decreases were observed in the prices of potatoes (-30.89%), pulse gram (-19.89%), chicken (-19.56%), sugar (-17.48%), powdered salt (-14.09%), pulse masoor (-12.80%), eggs (-8.38%), and pulse moong (-7.38%).
Breaking down the SPI by income groups, households with a monthly income of up to Rs17,732 recorded a 1.19 percent reduction in SPI from 349.80 to 345.63 points.
For the Rs17,733-22,888 income group, the SPI fell by 1.37 percent, from 351.58 to 346.77 points; households earning Rs22,889-29,517 recorded a 0.97 percent reduction, with the SPI declining from 371.94 to 368.32 points.
The highest income group, earning Rs44,175 and above, saw an 0.68 percent reduction in SPI, from 358.89 to 356.44 points.
