Weekly SPI slightly up

ISLAMABAD: The Sensitive Price Index (SPI) for the week ending February 4 registered a slight increase of 0.09 percent, primarily driven by rising prices of essential commodities.

Tomatoes surged by 12.78 percent, followed by bananas (8.16 percent), onions (7.27 percent), and garlic (5.45 percent). Fuel costs also rose, with diesel up by 4.35 percent. Among food staples, pulse mash increased by 2.34 percent, pulse moong by 0.35 percent, mustard oil by 0.30 percent, and mutton by 0.24 percent.

The SPI related data released here on Friday by Pakistan Bureau of Statistic (PBS) revealed that during the week under review prices of the following items recorded a reduction: Wheat Flour by 2.89 percent, eggs 2.86 percent, pulse masoor 1.26 percent, Liquefied Petroleum Gas (LPG) 0.88 percent, Gur 0.73 percent, salt powder 0.59 percent, pulse gram 0.58 percent, cooking oil 5 Litre 0.52 percent and Rice IRRI-6/9 0.36 percent

During the week under review, out of 51 items, prices of 12 items, which are 23.53 percent of the basket, witnessed an increase, while 13 items, which is 25.49 percent of the basked, registered a decrease and 26 items, which constitute 50.98 of the basket, remained stable.

The Year on Year (YoY) trend depicted an increase of 4.84 percent in SPI owing to an increase in the prices of tomatoes 79.70 percent, eggs 38.87 percent, wheat flour 34.69 percent, gas charges for Q1 29.85 percent, bananas 13.49 percent, chillies powder 13.30 percent, beef 12.65 percent, LPG 11.53 percent, firewood 11.28 percent, powdered milk 9.92 percent, shirting 8.49 percent and gur 8.45 percent.

On YoY basis a reduction in the prices of the following items was observed: Potatoes 44.14 percent, garlic 32.69 percent, pulse gram 25.30 percent, onions 23.03 percent, tea Lipton 17.79 percent, chicken 11.64 percent, salt powder 10.68 percent, pulse masoor 10.36 percent, and petrol 1.33 percent.

The SPI for consumption groups up to Rs17,732 with an increase of 0.13 percent recorded at 324.23 against 323.80 points in the previous week. The SPI for the consumption group of Rs17,732 to 22,888 witnessed an increase of 0.11 percent was recorded at 324.61 against 324.25 points registered in the past week.