Pakistan recorded a notable 2.72% year-on-year decrease in its weekly Sensitive Price Index (SPI) for the week ending April 17th, marking the most substantial decline since the deflationary trend began in March, The News reported on Saturday, citing official figures released on Friday.
According to the Pakistan Bureau of Statistics, this continuous decline suggests weak demand and persistent pricing pressures across key consumer product categories. The SPI, which tracks the cost of essential goods in 17 cities across the country, also showed a negative growth of 0.69% compared to the previous week. Out of the 51 monitored items, prices increased for 16, decreased for 18, and remained unchanged for 17.
Over the course of just one week, significant price reductions were observed in several key food items. Tomatoes saw a sharp decline of 22.77%, followed by chicken at 11%, onions at 9.8%, garlic at 8.8%, wheat flour at 2.37%, potatoes at 2.18%, mustard oil at 0.95%, LPG at 0.89%, vegetable ghee at 0.68%, and sugar with a 0.29% price reduction.
However, some items did experience slight price increases during the week. These included shirting fabric, which became 3.7% more expensive, lawn printed fabric at 1.5%, and both lawn cloth and georgette, each increasing by 1.33%. Additionally, the price of gram pulse rose by 1.03%, beef by 0.66%, and mutton saw a price increase of 0.5% compared to the previous week.
Similarly, when looking at year-on-year changes, several essential items have witnessed significant price hikes over the past year. Ladies’ sandals have surged by 56%, moong pulse by 27%, powdered milk by 25%, gram pulse by 21%, and beef by 19%. Sugar prices have also increased by 17%, vegetable ghee by 15.7%, firewood by 10.5%, and both shirting and printed lawn fabrics have seen a 10.3% increase compared to a year ago.
On the other hand, some commodities have seen notable price reductions over the past year. Onion prices have fallen dramatically by 73.6%, followed by tomatoes at 52.7%, and wheat flour by 30%. Garlic prices have reduced by 29%, potatoes by 21%, and chili powder was 19% cheaper compared to the previous year.
Lipton tea became 17% cheaper, chicken by 15%, petrol by 13%, and electricity charges for the lowest consumption slab decreased by 12.7%. The price of diesel also declined by 10.85% over the year.
