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January 16, 2021

Weekly SPI slips down 0.22pc

Business

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APP
January 16, 2021

ISLAMABAD: Pakistan’s weekly sensitive price index (SPI) declined 0.22 percent for the week ended January 13, mainly on account of the drop in prices of some kitchen items, including eggs, tomato, potato, onions and chicken, official data showed on Friday.

SPI increased 5.77 percent as compared to weekly inflation in the corresponding period a year earlier, Pakistan Bureau of Statistics (PBS) reported.

For the combined consumption group, SPI recorded at 139.70 points against 140.01 points registered in the previous week.

The weekly sensitive price index with base year 2015-16=100 covers 17 urban centres and 51 essential items for all expenditure groups.

For the group that consumes up to Rs17,732, SPI was up 0.10 percent from 144.92 points in last week to 145.07 points during the week under review. Inflation remained flat for the second quintile, which spends Rs17,732-22,888.

The remaining three consumption groups witnessed decline in inflation. Group spending Rs22,889-29,517 saw SPI fall o.06 percent; Rs29,518-44,175 saw a decline of 0.16 percent, whereas SPI for those spending above Rs 44,175 per month decreased by 0.33 percent.

During the week, prices of seven items decreased, 23 items increased, while prices of 21 items remained unchanged.