SPI-based weekly inflation records minor decline of 0.19pc

ISLAMABAD – Inflation based on Sensitive Price Index (SPI) for the consecutive second week has recorded minor decline during the week ended on September 15 over the preceding week as prices of vegetables and fruits decreased.

The SPI based inflation has recorded decline of 0.19 percent during the week ended on September 15 over the preceding week, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 221.14 points during the week ended on September 15 as compared to 221.55 point during the week ended on September 8. On annual basis, the weekly inflation has enhanced to 40.58 percent. Recent floods caused by abnormally heavy monsoon rains have adversely affected important and minor Kharif crops which may impact the economic outlook through agriculture performance. The massive increase in electricity tariff as well as in petroleum products are another factors that contributed to the price spike. However, in last week, prices of some vegetables especially onions and tomatoes have recorded decline after the government had decided to import these vegetables from Afghanistan and Iran. During the week, out of 51 items, prices of 30 (58.82 percent) items increased, 10 (19.61 percent) items decreased and 11 (21.57 percent) items remained stable

An increase was observed in the prices of tea Lipton (6.30 percent), pulse moong (3.46 percent), eggs (2.54 percent), cooked beef pulse gram (2.53 percent) each, wheat flour (1.96 percent), rice Irri (1.73 percent), cooked daal (1.71 percent), pulse mash (1.68 percent) and bread (1.45 percent). The SPI for the current week ended on 15th September, 2022 recorded a decrease of 0.19 percent. Decrease was observed in the prices of food items, onions (16.24 percent), tomatoes (9.84 percent), bananas (2.50 percent), chicken (1.88 percent), sugar (0.95 percent), vegetable ghee 1kg (0.39 percent), potatoes (0.33 percent), vegetable ghee 2.5kg (0.23 percent) and cooking oil 5 litre (0.10 percent). In non-food item, prices of LPG increased by 2.62 percent. The prices of following commodities remained unchanged: long cloth, lawn printed, gents sandal Bata, ladies sandal Bata, electricity charges, gas charges upto 3.3719 MMBTU, petrol super, Hi-speed diesel, telephone call charges.

According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 0.31 percent decrease and went down to 224.98 points this week from 225.6 points in last week. Meanwhile, the SPI for the consumption groups from Rs17,732-22,888; Rs22,889-29,517; Rs29,518-44,175 and above Rs 44,175 also decreased by 0.016 percent, 0.15 percent, 0.19 percent and 0.19 percent respectively. The year on year trend depicts an increase of 40.58 percent, tomatoes (170.51 percent), diesel (105.12 percent), petrol (90.73 percent), pulse masoor (76.65 percent), pulse gram (67.11 percent), mustard oil (65.75 percent), cooking oil 5 litre (65.45 percent), washing soap (61.05 percent), vegetable ghee 2.5 kg (60.68 percent), LPG (56.61 percent), vegetable ghee 1 kg (56.46 percent), pulse mash (53.41 percent) and electricity (52.04 percent), while decrease observed in the prices of chillies powder (43.05 percent), sugar (19.83 percent) and gur (2.50 percent).

Article source: https://www.nation.com.pk/17-Sep-2022/spi-based-weekly-inflation-records-minor-decline-of-0-19pc