Weekly SPI inflation up 1.16pc

ISLAMABAD: The Sensitive Price Index (SPI) for the week ending February 19 recorded an increase of 1.16 percent, SPI data released by the Pakistan Bureau of Statistics (PBS) revealed here on Friday.

The surge in weekly inflation was primarily driven by an increase in the prices of several essential commodities.

The FBS data revealed on Week on Week (WoW) basis the significant increase in the prices of bananas 16.05 percent, electricity charges for Q1 15.41 percent, garlic 5.86 percent, chicken 5.49 percent, onions 3.83 percent, tomatoes 3.82 percent, diesel 2.69 percent, petrol 1.93 percent, beef 1.03 percent, Liquefied Petroleum Gas (LPG) 0.75 percent, mutton 0.69 percent and long cloth 0.28 percent.

According to PBS data on WoW basis, a reduction in the prices of following items was observed: Eggs price went down by 11.78 percent, potatoes 2.24 percent, wheat flour 2.02 percent, pulse masoor1.47 percent, sugar 0.96 percent, vegetable ghee 2.5Kg (0.72 percent, pulse gram 0.58 percent, cooking oil 5 Litre 0.19 percent, gur 0.16 percent, vegetable ghee 1Kg 0.11 percent, Irri-6/9 rice 0.08 percent and Mustard Oil 0.07 percent.

During the week, out of 51 items, prices of 17 items, which is 33.33 percent of the basket, witnessed an increase, prices of 12 items, which is 23.53 percent of the SPI basket, witnessed a reduction, and prices of the 22 items, which is 43.14 percent of the basket, remained stable.

However, according to PBS on year on year (YoY) basis, the SPI witnessed an increase of 5.19 percent. On YoY basis significant increase was observed in the prices of tomatoes 85.20 percent, wheat flour 31.33 percent, gas charges for Q1 29.85 percent, electricity charges for Q1 17.33 percent, bananas 15.83 percent, chilies powder 15.20 percent, beef 13.28 percent, LPG 12.22 percent, firewood 11.40 percent, powdered milk 9.89 percent, shirting 9.11 percent, mutton 8.77 percent and gur 8.63 percent.

While on annual basis a reduction in in the prices of potatoes 45.43 percent, garlic 27.51 percent, pulse gram 23.30 percent, chicken 19.36 percent, onions 18.10 percent, tea lipton13.95 percent, salt powder 12.52 percent, pulse masoor12.33 percent, eggs 8.54 percent, pulse mash 5.08 percent, mustard oil 2.13 percent, sugar 1.43 percent and pulse moong 1.40 percent.

The SPI for consumption groups up to Rs17,732 with an increase of 1.11 percent recorded at 325.80 points against 322.23 points recorded in the previous week. The SPI for the consumption group of Rs17,732 to 22,888 witnessed an increase of 1.50 percent was recorded at 327.44 against 322.60 points registered in the past week.

The SPI for the consumption group with a monthly income of Rs22,889 to 29,517 witnessed an increase of 1.03 percent, recorded at 347.84 points against 344.30 points recorded in the preceding week, and the SPI for the consumption group with a monthly income of Rs29,518 to Rs44,175 jumped by 0.92 percent, recorded at 334.17 points against 331.13 points recorded in the past week.

The SPI for the consumption group with a monthly income of Rs44,175 and above witnessed an increase of 0.78 percent, recorded at 332.80 points against 330.23 points reported in the previous week.