Weekly inflation witnesses nominal increase

Weekly inflation witnesses nominal increase

ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended on May 24, for the lowest income group up to Rs8,000, registered nominal increase of 0.75 per cent as compared to the previous week.

The SPI for the week under review in the above mentioned group was recorded at 175.53 points against 175.23 points registered in the previous week, according to provisional figures of Pakistan Bureau of Statistics (FBS). The weekly SPI has been computed with base 2007-2008=100, covering 17 urban centers and 53 essential items for all income groups and combined. The SPI for the combined group registered increase of 1.86 per cent as it went up from 183.61 points in the previous week to 187.03 points in the week under review. As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 11.73 percent.

As compared to the last week, the SPI for the income groups from Rs8001-12,000, 12,001-18,000 and 18001-35,000 increased by 2.66, 2.06 and 1.63 respectively while the SPI for income group above Rs35,000 increased by 1.70 per cent. During the week under review average prices of 12 items registered decrease, while that of 15 items increase with the remaining 26 items’ prices remained unchanged. The items which recorded decrease in their average prices during the week under review included chicken, egg hen (farm), tomatoes, mash pulse washed, LPG ( 11 kg cylinder), onions, garlic, red chillies (powder), mustard oil, vegetable ghee (loose) and sugar.

The items which registered increase in their prices included electric charge, bananas, potatoes, cooking oil (tin), vegetable ghee (tin), curd, wheat flour, milk fresh, rice basmati broken, washing soap, wheat, tea prepared cup, fire wood, gur and moong pulses. The items with no change in their average prices during the week under review included rice irri-6, bread plain, beef, mutton, milk powder, masoor pulses washed, salt powder, tea, cooked beef (plate), cooked dal (plate), cigrates, shirting, lawn, georgette, sandal gents, chapel spang, sandal ladies, gas charges, kerosene oil, energy savor, match box, petrol, diesel, telephone local and bath soap. -BusinessRecorder