ISLAMABAD   -   Inflation measured through the Sensitive Price Indicator (SPI) has registered an increase of 2 percent during the week ended on June 2 mainly due to the government’s decision to increase the petroleum products prices by Rs30 per litre during the last week.

The SPI-based inflation registered an increase of 2 percent during the week ended on June 2, according to the latest data of Pakistan Bureau of Statistics (PBS) released on Friday. The SPI was recorded at 178.12 points during the week ended on June 2 as compared to 174.62 point during the week ended on May 26. On annual basis, the weekly inflation has enhanced by 20.04 percent.

The inflation has gone up due to the government’s decision to increase oil prices by Rs30 per litre in the last week.

Meanwhile, economic experts believed that inflation could further fuel as the government has once again enhanced the petroleum products prices by up to Rs30 per litre. In the period of eight days, the government has increased the oil prices by Rs60 per litre to reduce the volume of subsidies on the directions of International Monetary Fund (IMF) to secure loan tranche.

Meanwhile, the currency depreciation would be another reason for increasing inflation rate.

The SPI for the lowest consumption group up to Rs17,732 witnessed 1.02 percent increase and went up to 185.86 points this week from 183.98 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 increased by 1.27percent, 1.41 percent, 1.7 percent and 2.4 percent respectively.

During the week, out of 51 items, prices of 28 (54.90 percent) items increased, 05 (9.81 percent) items decreased and 18 (35.29 percent) items remained stable.

The SPI for the current week ended on 2nd June, 2022 recorded an increase of 2.00 percent. Increase observed in the prices of food items potatoes (9.08 percent), eggs (6.38 percent), vegetable ghee 1 kg (4.59 percent), bread (2.72 percent), mustard oil (2.65 percent), pulse masoor (2.33 percent), cooking oil 5 litre (2.18 percent), pulse gram (1.99 percent), sugar (1.93 percent), cooked beef & pulse mash (1.69 percent) each, vegetable ghee 2.5 kg (1.51 percent) and bananas (1.35 percent), non-food items Hi-speed diesel (20.69 percent), petrol super(19.91 percent) and toilet soap (1.40 percent) with joint impact of (2.09 percent) into the overall SPI for combined group of (2.00%).

On the other hand, decrease was observed in the prices of chicken (4.68 percent), garlic (2.75 percent), wheat flour (1.91 percent), tomatoes (1.26 percent) and LPG (0.74 percent).

The prices of following commodities remain unchanged included gur (average quality), salt powdered, chillies powder, tea lipton yellow label, tea prepared ordinary, cigarettes capstan 20’S packet, electricity charges, gas charges upto 3.3719 MMBTU, firewood whole, match box and telephone call charges during the period under review.

The year on year trend depicts an increase of 20.04 percent, onions (177.62 percent), tomatoes (152.57 percent), mustard oil (70.50 percent), vegetable ghee 1 kg (68.02 percent), garlic (67.44 percent), pulse masoor (66.92 percent), petrol (64.78 percent), cooking oil 5 litre (64.72 percent), vegetable ghee 2.5 kg (62.43 percent), LPG (60.14 percent), diesel (56.45 percent) and washing soap (42.92 percent), while major decrease observed in the prices of chillies powdered (43.42 percent), pulse moong (21.62 percent), electricity charges for Q1 (11.71 percent), sugar (11.16 percent), bananas (9.95 percent), potatoes (6.89 percent) and gur (1.46 percent).