SPI based inflation ticks up
ISLAMABAD, Oct 12: After a decline of two consecutive weeks, the Sensitive Price Index (SPI) increased by 0.17 per cent for combined income group during the week ending on October 11, 2012 mainly due to increase in petroleum prices and seasonal food items.
The data released by Pakistan Bureau of Statistics (PBS) here on Friday highlights that the weekly based inflation increased by a higher percentage for high end income segment compared to the lower income groups.
The SPI increased by 0.12 per cent for the income group earning more than Rs35,000 per month, which is mainly because the prices of items consumed by this category has shown a considerable increase.
“The data shows that the average price of chicken eggs have increased by more than Rs6 per dozen to reach around Rs106– which means that the costs of one egg is little less than Rs9,” said an economist at the planning commission.
“It also signifies that the low and mid income groups have reduced egg consumption on routine basis,” he added.
The other main reason is increase in the prices of petrol which affects the consumption pattern of upper and upper middle class. Meanwhile the decline in diesel prices during the week supported the lower income groups.
The PBS data shows that the SPI increased by 0.15 per cent for the upper middle class earning between Rs18,001 and Rs35,000 per month.
However for the remaining three income groups, earning up to Rs8,000 per month, Rs8,001 – Rs12,000 and Rs12,001- Rs18,000 the SPI increased by 0.12 per cent compared to the previous week.
During the week, 18 items witnessed increase in prices with the list being led by farm chicken eggs, sugar and petrol. Other items which registered increase in prices are onions, garlic, kerosene, shirting, gur, georgette cloth, LPG, cooked beef plate, wheat flour, beef, washed moong pulse, potatoes, firewood, wheat and loose vegetable ghee.
During the week, prices of 11 items including bananas, tomatoes, live farm chicken, diesel, packed vegetable ghee, packed cooking oil, red chillies powder loose, washed masoor pulse, mustard oil, washed gram pulse and washed mash pulse declined.
The prices of 24 items remained unchanged during the week including broken rice basmati, rice irri-6, plain bread, mutton, fresh milk, curd, powdered milk, loose rock salt powder, tea, cooked dal plate, tea prepared, cigarettes, long cloth, lawn cloth, gents sandal, gents spring chappal, ladies sandal, electric charges, gas charges, energy savor 14 watts, washing soap, match box, telephone and bath soap.