Power tariff raise lifts inflation by 2 per cent

ISLAMABAD - Due to increase in power tariff, the ratio inflation has surged by over two per cent in the week ended on Thursday over the previous week, Federal Bureau of Statistic reported on Saturday.
According to the figures, inflation based on Sensitive Price Indicator has registered an increase of 2.20 percent for all income groups in the week ended on Thursday on weekly basis while it enhanced by 16.92 percent on yearly basis.
It is worth mentioning here that the government increased gas prices by 18 percent and electricity prices by 13 percent with the start of New Year, which accelerated the inflation in the last week
Economic experts believed that increase in inflation was sure after the increase in gas and electricity prices. They were of the view that it would further increase as prices of oil in international are on the rising trend, which directly affected the inflation in Pakistan.
Meanwhile, according to the figures, for the lowest income group, inflation has ballooned by 17.35 percent in the period under review and went up by 1.62 percent in a week time.
For the second lowest income group, having income up to Rs 5,000 per month, the SPI on yearly basis soared by 17.52 percent and the income group of up to Rs. 12,000 per month saw a growth of 17.45 per cent.
On the year-on-year basis, inflation accelerated by 16.89 percent for the highest income group of above Rs. 12,000, while on weekly basis it surged by 2.80 percent for the same group.
Due to hike in power tariff prices of 26 commodities increased in a week time out of 53 items, while prices of 6 products declined and 21 remained unchanged in a weeks period.
Prices of the following goods increased both on a yearly and weekly basis. On a yearly basis, the goods witnessing price rise include: gas charges 22.27 percent, electric charging 21.43 percent, onion 19.46 percent, egg 42.04 percent, vegetable ghee 16.64 percent, LPG (11 kg cylinder) 28.14 percent, wheat flour 16.84 percent, potatoes 13.65 percent, gur 71.23 percent, sugar 72.97 percent, firewood 11.25 percent, moong pulse washed 60.14 percent, mash pulse washed 69.68 percent, mutton 17.58 percent, wheat 7.12 percent, chicken 22.61 percent, bread plain 8.09 percent, red chillies 22.46 percent, shirting 3.42 percent, beef 19.93 percent and coarse latha 1.28 percent.
On the other hand, the prices of the following commodities fell on a weekly pattern: tomatoes 3.92 percent, diesel 2.70 percent, petrol 1.35 percent, kerosene 1.12 percent, garlic 0.22 percent and bananas 0.21 percent.
The prices of the following items remained unchanged on weekly basis but surged on an annual pattern including milk fresh 15.18 percent, powdered milk 5.88 percent, vegetable ghee (tin) 13.77 percent, cooking oil 6.50 percent, salt 0.44 percent, tea packet 10.61 percent and tea prepared 23.75 percent.