Weekly Inflation Falls Slightly but Yearly Pressure Remains High

The Pakistan Bureau of Statistics (PBS) has reported a marginal decline of 0.33% in the Sensitive Price Indicator (SPI)-based weekly inflation for the combined consumption group for the week ending April 23, 2026. The SPI index decreased to 352.04 points, compared to 353.21 points recorded in the preceding week.

On a year-on-year basis, however, inflation remains elevated, with the SPI registering an increase of 13.98% relative to the corresponding period last year. The SPI, benchmarked to the base year 2015-16 = 100, captures price movements across 51 essential commodities in 17 urban centres and reflects consumption patterns across various income groups.

For the lowest income bracket (up to PKR 17,732), the SPI declined by 0.41%, falling to 331.60 points from 332.97 points. Similar downward adjustments were observed across other consumption categories, with decreases of 0.36% for the PKR 17,733–22,888 group, 0.31% for PKR 22,889–29,517, 0.30% for PKR 29,518–44,175, and 0.34% for the highest consumption group exceeding PKR 44,175.

During the week under review, price movements remained mixed across the basket of essential items. Out of 51 commodities, 19 items (37.25%) recorded price increases, 9 items (17.65%) experienced declines, while 23 items (45.10%) remained unchanged.

Significant price reductions were observed in key food and energy items, including tomatoes (down 27.65%), onions (9.35%), diesel (8.35%), liquefied petroleum gas (7.08%), garlic (4.27%), bananas (0.47%), wheat flour (0.37%), sugar (0.36%), and mustard oil (0.22%).

Conversely, upward price trends were recorded in several commodities, notably potatoes (up 3.13%), bread (0.91%), washing soap (0.85%), cooking oil (5-litre pack) (0.69%), long cloth (0.65%), eggs (0.61%), mutton (0.45%), chicken (0.44%), vegetable ghee (1 kg) (0.30%), and pulse masoor (0.27%).

From a year-on-year perspective, the SPI reflects substantial inflationary pressures across key expenditure categories. Notable increases were recorded in electricity charges for Q1 (54.02%), LPG (50.68%), petrol (44.10%), diesel (36.76%), wheat flour (36.06%), onions (31.89%), and tomatoes (23.46%). Additional upward movements were observed in items such as chilli powder, mutton, beef, powdered milk, and garlic.

In contrast, certain commodities exhibited price declines over the same period, including potatoes (down 47.38%), pulse gram (19.92%), salt powder (13.22%), sugar (11.74%), pulse masoor (11.47%), pulse moong (1.63%), and packet tea (1.14%).

Overall, while the weekly SPI indicates a modest short-term easing in inflationary pressures, the year-on-year data underscores the persistence of elevated price levels across essential goods, with implications for cost-of-living adjustments and fiscal policy considerations.