ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ending May 29 showed a 0.81% decrease in weekly inflation, driven by significant declines in key commodities.
The decrease in inflation comes because of the sizeable decline in chicken prices and LPG prices in Pakistan, the latest report from the country‘s chief statistical agency showed. According to the Pakistan Bureau of Statistics (PBS), during the last week, the power tariff declined by 10.10 per cent.
Chicken prices followed at 8.81 per cent, and LPG was a 2.67 per cent decline. It uses SPI (Sensitive Price Indicator) to observe the inflation trend in Pakistan. On the contrary, CPI (Consumer Price Index) is used globally to calculate the inflation rate for each month.
The decline comes amidst the finding that other edible items saw some high increases, including tomatoes, as well as eggs and pulses.
However, the huge decrease in electricity, chicken, and LPG prices outweighed any increase. Previously, Pakistan recorded just 0.3 per cent inflation in April, after CPI recorded an unprecedented all-time high at 38 per cent in May 2023.
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