Weekly SPI inflation up 0.53 percent

ISLAMABAD: The sensitive price indicator (SPI) for the week ended February 21 increased to 0.34 percent over the previous week, and rose a whopping 10.44 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 244.97 points against 244.14 points last week.

For the lowest income group the indicator also increased 0.34 percent to 224.92 points from last week’s 224.15 points. As compared to the corresponding week of last year, the SPI for the lowest income group increased by 7.07 percent.

The weekly SPI has been computed with base 2007-08=100, covering 17 urban centres and 53 essential items for all income groups and combined. Meanwhile, the sensitive price indicator for the income groups from Rs8,001-Rs12,000, Rs12,001-Rs18,000, Rs18,001-Rs35,000 and above Rs35,000 per month increased by 0.34 percent, 0.36 percent, 0.34 percent, and 0.32 percent, respectively.

During the week under review, average prices of six items registered decrease, 16 items increased, while prices of 31 items remained unchanged. The items which registered decrease in their prices during the week under review included LPG Cylinder, onions, red chilli, wheat, mash pulse, and sugar.

The items which recorded increase in their average prices included tomatoes, chicken, soap, potatoes, bananas, gur, rice (irri-6), cooked lentils, bread, gram pulse, garlic, masoor pulse, unpacked vegetable ghee, eggs, wheat flour, and moong pulse.

The prices of commodities that remained unchanged during the week under review included rice (basmati), beef, mutton, fresh milk, curd, powdered milk, mustard oil, unpacked vegetable ghee, packaged tea, cooked beef, prepared tea, cigarettes, long cloth, shirting, lawn, georgette, gents sandal, gents chappal, ladies sandal, electricity charges, gas charges, kerosene oil, firewood, electric bulb, matchbox, petrol, diesel, telephone local call, and soap.