The Sensitive Price Indicator (SPI) for the week ending September 5, 2024, fell by 0.15%, marking a continued drop for the fourth consecutive week, as reported by the Pakistan Bureau of Statistics (PBS).
The latest SPI report highlights significant price reductions in items such as tomatoes (-14.54%), chicken (-1.55%), and wheat flour (-1.31%). Conversely, prices increased for onions (+3.83%), pulse gram (+1.65%), and garlic (+1.38%).
Out of 51 items tracked, 19 (37.25%) saw price increases, 13 (25.50%) experienced price drops, and 19 (37.25%) remained unchanged.
On a year-over-year basis, the SPI recorded 14.07% for the week ending September 5, 2024—the lowest level in three years. This decline supports the anticipation of a potential policy rate cut by the central bank during the upcoming Monetary Policy Committee meeting.
Pakistan’s overall inflation rate fell to 9.6% in August 2024, down from 11.1% in July 2024, reflecting a return to single-digit inflation for the first time in three years.
