By Farooq Awan

The Sensitive Price Indicator (SPI) for the lowest income group (Quintile 1) rose by 4.80% year-on-year in February 2026, according to the Monthly Review on Price Indices (Base Year 2015-16) released by the Pakistan Bureau of Statistics (PBS), indicating continued pressure on essential commodity prices for low-income households.

The SPI index for Quintile 1 stood at 323.76 in February 2026, compared to 308.94 in February 2025. On a month-on-month basis, however, the index declined by 0.15% from 324.24 in January 2026.

The overall combined SPI recorded a 4.60% year-on-year increase in February 2026. The combined index rose to 333.64 from 318.97 a year earlier, while on a monthly basis it edged down by 0.12% from 334.04 in January 2026.

Across income groups, variations were observed in annual inflation trends. Quintile 2 registered a 5.88% year-on-year increase, with its index rising to 324.69 in February 2026 from 306.66 in February 2025. On a monthly basis, the index slipped marginally by 0.02%.

Quintile 3 recorded a 5.02% annual increase, with the index reaching 345.91 compared to 329.37 a year earlier, while posting a 0.20% month-on-month decline.

Quintile 4 showed a 4.35% year-on-year rise, with the index increasing to 332.53 from 318.68. On a monthly basis, it declined by 0.30%.

Quintile 5, representing the highest income group within the SPI framework, recorded the lowest annual increase at 3.50%. Its index stood at 331.49 in February 2026, compared to 320.29 in February 2025, while declining by 0.27% from January 2026.

Weekly data for February reflected fluctuations during the month. For Quintile 1, the weekly percentage change over the previous week was 0.13% for the week ending February 4, followed by declines of 0.62% for the week ending February 12, a 1.11% increase for the week ending February 19, and a 0.71% decline for the week ending February 26.

The combined SPI recorded weekly changes of 0.09%, -0.59%, 1.16%, and -0.54% for the same respective weeks.

The data indicate that while the lowest income group continued to face a 4.80% annual increase in essential commodity prices in February 2026, month-on-month and weekly movements reflected mixed price trends during the month under review.

Credit: INP-WealthPk