Weekly inflation surges by 8pc

ISLAMABAD - Inflation based on Sensitive Price Indicator (SPI) has surged by 8 per cent in the week ended on Thursday over the corresponding period of last fiscal year, Federal Bureau of Statistics (FBS) reported on Saturday. According to the figures, inflation for all income groups has soared by 7.95pc in last week against same week of last fiscal year while it increased by 0.22pc on weekly basis. The SPI for the poor class of society (income group up to Rs 3,000) shot up by 0.22pc on weekly basis while it increased by 8.74pc on yearly basis. For the second lowest income group (Rs 5,000 per month) the SPI on yearly basis soared by 9.54pc and the income group of up to Rs 12,000 per month saw a growth of 9.55pc. On year-on-year basis, the inflation accelerated by 6.55pc for the highest income group of above Rs 12,000. On weekly basis, it surged by 0.21pc for the same group. Federal Bureau of Statistics (FBS) covers 17 urban cities covering 53 items and in a week time prices of 16 items registered increase, 11 items showed decrease while prices of 26 commodities remain unchanged. Prices of the following goods increased both on yearly and weekly bases. On yearly basis, the goods witnessing growth include, tomatoes 29.30pc, garlic 135pc, shirting 3.55pc, egg 6.36pc, chicken 17.88pc, wheat flour 20.10pc, gur 95pc, wheat 15.26pc, milk fresh 16.60pc, moong pulse washed 3.47pc, mash pulse washed 44.95pc, and firewood 11.12pc. On year-on-year and on weekly pattern the prices of the following commodities decreased: potatoes 2.35pc, cooking oil 1.27pc, bananas 1.03pc, gram pulse washed 0.82pc, coarse latha 0.63pc, vegetable ghee loose 0.57pc, sugar 0.38pc, red chillies 0.35pc, mustered oil 0.22pc and masoor pulse washed 0.17. Meanwhile, the following commodities did not show any change on weekly basis rice irri-6, beef, mutton, bread plain, powdered milk, curd, salt, tea, petrol and diesel.

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