ISLAMABAD - Weekly inflation based on Sensitive Price Index (SPI) enhanced by 1.83 percent in last week mainly due to the increase in prices of vegetables, which were damaged by the recent flooding caused by abnormally heavy monsoon rains.
The SPI based inflation recorded increase of 1.83 percent during the week ended on August 25 over the preceding week, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 219.97 points during the week ended on August 25 as compared to 216.02 point during the week ended on August 18. On annual basis, the weekly inflation has enhanced to all time high of 44.58 percent.
Recent floods caused by abnormally heavy monsoon rains have adversely affected important and minor Kharif crops which may impact the economic outlook through agriculture performance. The massive increase in electricity tariff as well as in petroleum products are another factors that contributed to the price spike. During the week, out of 51 items, prices of 23 (45.10 percent) items increased, 07 (13.72 percent) items decreased and 21 (41.18 percent) items remained stable.
The SPI for the current week ended on 25th August, 2022 recorded an increase of 1.83 percent. Increase was observed in the prices of food items, tomatoes (43.09 percent), onions (41.13 percent), potatoes (6.32 percent), eggs (3.43 percent), garlic (2.23 percent), powdered milk (1.53 percent) and pulse mash (1.12 percent). In non-food items, prices of cigarettes have enhanced by (2.26 percent) and LPG (1.95 percent).
On the other hand, a decrease was observed in the prices of pulse Masoor (1.18 percent), vegetable ghee 1kg (1.00 percent), vegetable ghee 2.5kg (0.82 percent), bananas (0.61 percent), cooking oil 5 litre (0.51 percent), sugar (0.28 percent) and mustard oil (0.07 percent).
The prices of following commodities remained unchanged including bread plain (small size), milk fresh, curd, salt, chilies powder, cooked beef at average hotel, cooked daal at average hotel, tea prepared ordinary, average quality 3 gents sandal Bata, electricity charges, gas charges upto 3.3719 MMBTU, energy saver, petrol super, hi-speed diesel and telephone call charges.
According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 2.66 percent increase and went up to 225.48 points this week from 219.64 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 2.44 percent, 2.16 percent, 2 percent and 1.53 percent respectively.
The year on year trend depicts an increase of 44.58 percent, tomatoes (178.10 percent), onions (155.14 percent), diesel (108.77 percent), petrol (94.53 percent), pulse masoor (90.74 percent), cooking oil 5 litre (70.61 percent), mustard oil (67.58 percent), vegetable ghee 2.5 kg (64.71 percent), vegetable ghee 1 kg (63.93 percent), washing soap (63.27 percent), electricity for Q1 (63.03 percent), chicken (55.76 percent) and pulse gram (55.07 percent), while a decrease observed in the prices of chilies powder (43.42 percent), sugar (16.90 percent) and gur (1.21 percent).
