Weekly inflation increases
ISLAMABAD, June 23: Despite decrease in the prices of petroleum fuel, the Sensitive Price Index (SPI) for the week ending on June 21 increased for the middle class and the low income groups of the society.
However, the weekly based inflation monitor registered a decline for the high income segment, data released by the Pakistan Bureau of Statistics on Saturday showed.
The SPI for highest income group earning above Rs35,000 per month decreased by 0.56 per cent compared to the previous week.
While the SPI for income group earning between Rs18,001 and Rs35,000 per month declined by 0.15 per cent, whereas the
weekly based inflation slightly inched up by 0.03 per cent.
However for the income group earning between Rs8,001 and Rs12,000 per month the SPI improved by 0.11 per cent. The major impact of inflation was borne by the lowest income group earning up to Rs8,000 per month, as the SPI increased by 0.18 per cent for this segment during the week under review.
Meanwhile, for the combined income group, the SPI declined by 0.24 per cent compared to the previous week.
The SPI inflation is continuously increasing for the lowest income group since the announcement of the federal budget 2012-13.
The weekly based inflation monitor SPI is computed from the data received in 17 urban centres covering 53 essential items
for all income groups.
Analysts said that the inflation for the low income groups increased because of rise in the prices of kitchen items.
“As witnessed from the data 15 out of 16 items that registered a decline in prices relates to kitchen — and the low income
groups spent major part of their earnings on food,” said an economist at the Planning Commission.
The average price of 16 items registered an increase in prices which are tomatoes, potatoes, milk powdered, bananas, live farm chicken, garlic, LPG, cooking oil packed, farm chicken eggs, onions, packed vegetable ghee, gur, lawn cloth, mustard
oil, wheat and rice basmati broken.
The prices of nine items registered decrease during the said week, these are petrol, diesel, kerosene oil, washed gram pulse, washed moong pulse, washed mash pulse, sugar, vegetable ghee loose and loose red chilies powder.
Market players have said that the prices of pulses have not risen in the country due to higher supplies coming from India as a result of growing trade liberalisation between the two countries.
The prices of 28 items which remained unchanged are wheat flour, rice irri-6, plain bread, beef, mutton, fresh milk, curd, washed masoor pulse, loose salt powdered, tea, cooked beef plate, cooked dal plate, tea prepared (sada), cigarettes, long
cloth, shirting, georgette cloth, gents sandal, gents spring chappal, ladies sandal, electricity charges, gas charges, firewood, energy savor 14 watts, washing soap, match box, local telephone calls and bath soap.