Weekly inflation up 0.42 percent

ISLAMABAD: The sensitive price indicator (SPI) for the week ended November 15 increased to 0.42 percent over the previous week, and rose 5.71 percent as compared to weekly inflation in the corresponding period last year, official data showed on Friday.

Pakistan Bureau of Statistics (PBS) data showed that weekly inflation for the combined income group continued with its upward trend, recording at 238.70 points against 237.7 points last week.

SPI for the income group earning up to Rs8,000 increased 0.41 percent during the week under review as compared to the preceding week.

Weekly inflation for the group earning Rs8,001 to Rs12,000 increased by 0.42 percent, followed by 0.43 percent for the people earning between Rs12,001 and Rs18,000, 0.43 percent for those making Rs18,001 and Rs35,000, and 0.41 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 25 goods increased and five items decreased during the week ended on November 15 over the previous week.

Price of a kilogram of farm or broiler live chicken showed the highest increase of 7.40 percent. Other items that increased include onions up three percent, bananas up 2.87 percent, washed moong up 2.4 percent, white lentil up 2.01 percent, orange lentil up 1.84 percent, potatoes up 1.59 percent, gram up 1.15 percent, eggs up 1.08 percent, and packaged powdered milk up 0.53 percent.

Slight increase was also witnessed in the prices of average quality georgette cloth, long cloth, firewood, tinned cooking oil, vegetable oils, beef with bone, average quality mutton, garlic, refined sugar, broken basmati rice, rice Irri-6, prepared tea, and a bag of wheat.

Average prices of five items decreased during the week compared to the previous-seven day period. Price of LPG cylinder (11kg) registered highest decline of 1.31 percent, followed by tomatoes 0.91 percent, average quality gur 0.67 percent, red chilli 0.02 percent, and average quality mustard oil 0.01 percent. Average prices of 23 items remained unchanged during the week under review.