ISLAMABAD - For the seventh consecutive week, Sensitive Price Index (SPI) based inflation has recorded an increase during the week ended on July 14 mainly due to the impact of massive hike in prices in oil products in last couple of months.

The SPI based inflation has recorded minor increase of 0.01 percent during the week ended on July 14 over the preceding week, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 200.55 points during the week ended on July 14 as compared to 200.53 point during the week ended on July 7. On annual basis, the weekly inflation has enhanced by 33.12 percent. The SPI-based inflation is on the upward side from last several weeks mainly due to the currency depreciation as well as massive increase in petroleum products prices. In last couple of months, petroleum products prices had increased by up to Rs119 per liter to revive stalled loan programme of International Monetary Fund (IMF).However, the government on Thursday has reduced oil prices by up to Rs40.54 per liter, which might reduce the inflation in the weeks to come. According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 0.05 percent decrease and went down to 206.12 points this week from 206.23 points in last week. Meanwhile, the SPI for the consumption groups from Rs17,732-22,888 has reduced by 0.03 percent. However, there was no change for inflation for income group of Rs22,889-29,517. Meanwhile, for income groups Rs29,518-44,175 and above Rs 44,175, SPI based inflation has increased by 0.02 percent and 0.01 percent respectively.

During the week, out of 51 items, prices of 29 (56.86 percent) items increased, 05 (9.81 percent) items decreased and 17 (33.33 percent) items remained stable. The SPI for the current week ended on 14th July, 2022 recorded an increase of 0.01 percent. Increase was observed in the prices of food items, potatoes (4.72 percent), chicken (4.45 percent), cooked daal (1.43 percent), rice irri 6/9 (1.17 percent), rice basmati broken (1.14 percent), vegetable ghee 2.5 Kg (1.12 percent), gur (1.08 percent) and curd (1.07 percent). In non-food item, washing soap (1.59 percent), with joint impact of (0.17 percent) into the overall SPI for combined group of (0.01 percent). On the other hand, decrease was observed in the prices of prices of tomatoes (24.55 percent), bananas (2.82 percent), pulse gram (0.67 percent), LPG (0.46 percent) and mustard oil (0.05 percent).

The prices of following commodities remained unchanged included bread plain (small size), powered milk, vegetable ghee, sugar, chilies powder, long cloth, lawn printed, gents sandal, gents sponge, electricity charges, gas charges upto 3.3719 MMBTU, match box, firewood whole, match box, petrol super, high speed diesel and telephone call charges.

The year on year trend depicts an increase of an increase of an increase of 33.12 percent, diesel (141.46 percent), petrol (119.61 percent), onions (89.33 percent), pulse masoor (88.60 percent), vegetable ghee 1 kg (78.92 percent), mustard oil (75.72 percent), cooking oil 5 litre (73.01 percent), vegetable ghee 2.5 kg (72.44 percent), washing soap (59.93 percent), chicken (52.61 percent), gents sponge chappal (52.21 percent), pulse gram (51.14 percent), garlic (40.54 percent), LPG (39.95 percent) and pulse mash (31.01 percent).while major decrease observed in the prices of chillies powdered (43.42 percent), sugar (15.13 percent), gur (2.41 percent) and pulse moong (2.09 percent).