Pakistan’s inflation soars to 48.02 per cent

ISLAMABAD (Agencies): The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.27 percent for the combined consumption group during the week ended on May 11, the Pakistan Bureau of Statistics (PBS) said. The SPI for the week under review in the above-mentioned group was recorded at 255.53 points as compared to 254.84 points during the past week, according to the PBS data.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 48.02 percent. The weekly SPI with the base year 2015-16 =100 is covering 17 urban centres and 51 essential items for all expenditure groups. The SPI for the lowest consumption group up to Rs17,732 witnessed a 0.38 percent increase and went up to 261.53 points from last week’s 260.54 points.

Meanwhile, the SPI for the consumption group from Rs 17,732-22-888; Rs 22,889-29,517; Rs 29,518-44,175; and above Rs 44,175 witnessed an increase of 0.38 per cent, 0.36 per cent, 0.33 per cent, and 0.20 per cent respectively. During the week, out of 51 items, prices of 23 (45.09%) items increased, 07 (13.73%) items decreased and 21 (41.18%) items remained stable. The items, which recorded an increase in their average prices on a week-on-week (WoW), included Tomatoes (6.32%), Gur (3.41%), Wheat Flour (2.76%), Tea Prepared (2.66%), Potatoes (2.14%), Cooked Beef (2.12%), Cooked Daal (1.98%), Powdered Milk (1.91%), Eggs (1.83%), Rice Basmati Broken (1.42%), Pulse Masoor (1.19%), Beef (1.18%) and non-food item, Washing Soap (1.04%).

The items that recorded a decrease in their average prices on a week-on-week (wow) basis, included Onions (9.40%), Chicken (2.25%), LPG (1.51%), Garlic (1.39%), Bananas (0.68%), Pulse Gram (0.13%) and Mustard Oil (0.05%). The commodities that witnessed an increase in price on Year-on-Year (YOY) basis, included Cigarettes (140.15%), Potatoes (112.80%), Gas Charges for Q1 (108.38%), Tea Lipton (106.09%), Wheat Flour (101.20%), Gents Sponge Chappal (100.33%), Diesel (99.39%), Bananas (98.22%), Rice Basmati Broken (90.76%), Eggs (89.40%), petrol (87.81%), Rice Irri-6/9 (83.47%), Pulse Moong (66.91%), Bread (62.83%) and Pulse Mash (58.79%). On a Year-on-Year (YoY) basis, the commodities which recorded a decrease in their average prices included Tomatoes (39.70%), Onions (22.17%) and Chilies Powdered (6.48%).