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May 30, 2020

Weekly inflation up 0.13 percent

Business

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APP
May 30, 2020

ISLAMABAD: The Sensitive Price Indicator (SPI)-based inflation for the week ended May 28, for the combined consumption group, witnessed nominal increase of 0.13 percent, Pakistan Bureau of Statistics (PBS) reported on Friday.

SPI for the week under review in the abovementioned group was recorded at 128.32 points against 128.15 points registered in the previous week, it added.

The weekly SPI with base year 2015/16=100 is covering 17 urban centres and 51 essential items for all expenditure groups.

SPI for the lowest consumption group up to Rs17,732 also witnessed an increase of 0.57 percent as it went up to 134.20 points during the week under review from 134.06 points last week.

SPI for the combined consumption group in the week under review witnessed an increase of 9.63 percent, while for the lowest consumption group, it increased 11.07 percent.

SPI for consumption groups from Rs17,733 to Rs22,888; Rs22,889 to Rs29,517; Rs29,518 to Rs44,175 and above Rs44,175/month increased 0.12 percent, 0.14 percent, 0.14 percent and 0.12 percent, respectively.

During the week, 12 items prices increased, prices of nine items decreased, while that of the remaining 30 items remained stable.

The commodities, which recorded increase in their average prices during the period under review included chicken, potatoes, wheat flour, washing soap, gur, moong pulse, sugar, rice (basmati broken), mutton, curd, milk (fresh) and beef.

The items, which recorded decrease in their average prices included tomatoes, garlic, onions, bananas, gram pulse, masoor pulse, LPG cylinder, eggs and mash pulse.

According to PBS analysis, the increase was mainly due to a rise in the prices of food items ie, chicken (2.45 percent), potatoes (1.85 percent) and wheat flour (1.18 percent) with joint impact of 0.06 into the overall SPI for combined group of (0.13 percent).