Weekly SPI inflation increases 0.53pc

KARACHI: The Sensitive price indicator (SPI) for the week ended February 14 for the combined income group increased to 0.53 percent over the previous week, and rose a whopping 9.85 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 244.14 points against 242.85 points last week.

SPI for income group of up to Rs8,000 increased 0.52 percent during the week under review as compared to the preceding week, while registering the lowest increase of 6.46 percent amongst all quintiles, compared to weekly inflation in the corresponding period last year.

Weekly inflation for the group earning Rs8,001 to Rs12,000 increased by 0.53 percent. The SPI for the people earning between Rs12,001 and Rs18,000 increased up to 0.56; and for those making Rs18,001 and Rs35,000 it went up 0.54 percent. The income group earning above Rs35,000 recorded the lowest increase in inflation at 0.51 percent, however, the weekly SPI increased a whopping 14.30 percent for this quintile compared to the weekly inflation in the corresponding period last year.

PBS computes weekly price trend of 53 essential items from 17 urban centres. Average prices of 12 goods increased during the week ended on February 14 over the previous week. The items which recorded the highest increase in average prices were tomato, up 20.09 percent to Rs109.45/kg, broiler and farm chicken, up 6.59 percent to Rs148.35/kg, and bananas, up 4.15 percent to Rs73.83/dozen.

Nominal increase in prices was registered by average quality mustard oil, wheat, beef, refined sugar, mutton, wheat flour, unpackaged vegetable ghee, gur, and orange lentil.

The items which registered decrease in their prices during the week under review included LPG cylinder, garlic, eggs, onion, potatoes, white lentil, gram, rice Irri-6, golden gram (mung), and red chilli powder.

Average prices of 31 items remained unchanged. Those items included broken basmati rice, plain-medium bread, fresh and powdered milk, curd, tinned cooking oil, tinned vegetable oil, salt, tea, cooked beef and lentils, cigarettes, electricity, gas, petrol, HSD, landline call, cloth, and soap.