Weekly SPI lowers 0.03pc

KARACHI: Sensitive price indicator (SPI) for the week ended February 8 inched down 0.03 percent over the previous week, but it rose 1.66 percent as compared to weekly inflation in the corresponding period a year earlier, official data showed on Friday.

Pakistan Bureau of Statistics (PBS) data showed that weekly inflation for the combined income group continued with the downward trend.

SPI for the group earning up to Rs8,000 was down 0.13 percent during the week under review as compared to the preceding week.

Weekly inflation for the group earning Rs8,001 to Rs12,000 declined by 0.09 percent, followed by 0.06 percent for the people earning between Rs12,001 and Rs18,000, 0.03 percent for those making Rs18,001 and Rs35,000 and 0.01 percent for the income group earning above Rs35,000.

PBS computes weekly price trend of 53 essential items from 17 urban centres. Average prices of 14 goods decreased during the week ended on February 8 over the previous week.

Prices of onions fell 6.35 percent on a kilogram, showing the highest decline. It was followed by farm hen eggs down 5.97 percent, white lintel down 1.72 percent, and LPG cylinder (11kg) down 1.43 percent.

Items with less than one percent fall included washed gram (pulse) down 0.83 percent, potatoes down 0.78 percent, washed masoor down 0.61, soap (LifeBuoy) down 0.58 percent, wheat flour bag down 0.44 percent, refined sugar down 0.27 percent, washed moong down 0.24 percent, tinned cooking oil and tinned vegetable ghee down 0.13 percent, and red chilli powder (loose) down 0.12 percent.

Average prices of eight items increased during the week compared to the previous seven-day period. Prices of bananas increased 6.10 percent, tomatoes 4.10 percent, farm or broiler live chicken 3.86 percent, and garlic 1.22 percent.

Items registering less than one percent increase included average quality gur 0.25 percent, average quality beef with bones 0.11 percent, unpacked vegetable ghee 0.08 percent, and average quality mutton 0.01 percent. Prices of 31 commodities remained the same.