Weekly SPI inflation rises 0.20 percent

ISLAMABAD: The sensitive price indicator (SPI) for the week ended February 28 increased to 0.20 percent over the previous week, and rose a whopping 10.63 percent as compared to weekly inflation in the corresponding period last year, official data showed on Friday.

Pakistan Bureau of Statistics (PBS) data showed that weekly inflation for the combined income group continued with its upward trend, recording at 245.45 points against 244.97 points last week.

SPI for income group of up to Rs8,000 increased 0.14 percent from 224.92 points during the week under review as compared to the preceding week, while registering the lowest increase of 7.40 percent amongst all quintiles, compared to weekly inflation in the corresponding period last year.

Weekly inflation for the group earning Rs8,001 to Rs12,000 increased by 0.17 percent. The SPI for the people earning between Rs12,001 and Rs18,000 increased up to 0.19; and for those making Rs18,001 and Rs35,000 it went up 0.20 percent.

The income group earning above Rs35,000 recorded the highest increase in inflation at 0.21 percent, with the weekly SPI increasing a whopping 14.93 percent for this quintile compared to the weekly inflation in the corresponding period last year.

PBS computes weekly price trend of 53 essential items from 17 urban centres. Average prices of eight goods increased during the week ended on February 28 over the previous week.

Prices of garlic increased 8.79 percent, chicken 6.88 percent, banana 3.89 percent, onions 3.63, rice Irri-6 increased 0.76 percent, gur 0.48 percent, moong pulse 0.34 percent, and refined sugar prices went up by 0.25 percent.

The items which registered decrease in their prices during the week under review included potatoes, tomatoes, LPG Cylinder, broken basmati rice, white lentil, gram pulse, eggs, wheat flour, and red lentil.

The prices of commodities that remained unchanged during the week under review included wheat, bread, beef, mutton, milk, curd, powdered milk, mustard oil, cooking oil, vegetable ghee (loose), powdered salt, red chilli, tea (packet), cooked beef, cooked lentil, prepared tea, cigarettes, long cloth, shirting, lawn, georgette, gents sandal, gents chappal, ladies sandal, electricity charges, gas charges, kerosene oil, firewood, electric bulb, washing soap, match box, petrol, diesel, telephone local call, and bath soap.