ISLAMABAD: The sensitive price indicator (SPI) based inflation for the week ending March 17 witnessed an increase of 15.12% for the combined consumption group compared to the corresponding week of the last year (March 18, 21), reports INP-WealthPK.
According to the Pakistan Bureau of Statistics (PBS), on a year-on-year (YoY) basis, the commodities registering an increase in prices included food items tomatoes (90.53%), garlic (65.76%), pulse Masoor (37.23%), mustard oil (58.57%), vegetable ghee 1kg (55.16%), cooking oil 5 litre (50.75%), beef (24.84%), vegetable ghee 2.5kg (49.90%), and non-food items washing soap (39.17%), LPG (73.18%), petrol (33.42%), electricity (25.08%) and diesel (23.75%).
On the other hand, a major decrease was observed in the prices of chilies powder (37.44%), pulse moong (29.62%), eggs (18.49%), sugar (10.92%), and potatoes (8.76%).
According to the PBS, the combined index was 169.06 points on March 17, 2022 compared to 171.41 points on March 10, 2022, while the index stood at 146.86 points on March 18, 2021.
During the week, out of 51 items, prices of 29 (56.86%) items increased, 9 (17.65%) items decreased and 13 (25.49%) items remained stable.
Tomato was one of the key commodities that decreased the weekly inflation, with prices decreasing 12.04% on a week-on-week (WoW) basis.
Meanwhile, compared to the previous week, the SPI for the combined consumption group in the week under review witnessed a decrease of 1.37%. Food commodities that saw a decrease in prices included tomatoes (12.04%), chicken (8.39%), garlic (2.04%), sugar (0.49%), potatoes (0.41%), pulse gram (0.31%) and pulse mash (0.14%), non-food items, electricity (9.81%), and LPG (1.58%).
On the other hand, an increase was observed in the prices of vegetable ghee Dalda/Habib (6.25%), vegetable ghee Dalda/Habib 2.5 kg (4.56%), cooking oil Dalda 5 liter tin (3.62%), lawn printed Gul Ahmed/al-Karam (3.14%), shirting (2.57%), onions (2.06%), georgette (2%), cooked beef (1.98%), long cloth 57? Gul Ahmed/al-Karam (1.82%), bananas (1.76%), match box (1.60%), eggs (1.39%), mustard oil (1.27%), mutton (1.03%), pulse moong (0.97%), salt powdered (0.92%), Sufi washing soap (0.73%), pulse Masoor (0.58%), rice Basmati broken (0.54%), rice Irri-6/9 (0.53%), cooked daal (0.49%), tea prepared (0.35%), wheat flour bag 20kg (0.29%), tea Lipton Yellow Label (0.23%), beef with bone (0.23%), milk fresh (0.22%), gur (0.18%), curd (0.10%) and energy saver (0.06%).
Alternatively, the prices of 13 items remained stable including bread, powdered milk Nido, chilies powder, gents sandal Bata, gents’ sponge chappal Bata, ladies sandal Bata, gas charges up to 3.3719 MMBTU, firewood whole, petrol super, hi-speed diesel, toilet soap Lifebuoy, and telephone call charges.
The SPI for the lowest consumption group up to Rs17,732 observed a decrease of 0.99% and went down to 177.17 points this week from 178.95 points last week. On a yearly basis, analysis of SPI change across different income segments showed that the SPI increased across all quintiles ranging between 12.41% and 16.18%.
Yearly inflation for the group with monthly income from Rs29,518 to Rs44,175 (Q4) increased by 14.80%, while the highest income group with monthly income of above Rs44,175 recorded an increase of 16.18%.
Similarly, weekly inflation for the group with monthly income from Rs22,889 to 29,517 (Q3) decreased by 1.12%.
In addition, there was a mild price difference between the prices of Utility Stores and open market (March 17, 2022). The Utility Stores prices are comparatively lower than the open market. The Utility Stores Corporation is giving a special subsidy to consumers on pluses, flour, sugar, rice, and ghee under the government’s relief package.
The USC has reduced the prices of a variety of items, including flour 20kg by Rs212.89, Tota Basmati rice by Rs19.01 per kg, Channa by Rs3.45 per kg, sugar by Rs2.68 per kg, ghee Manpasand by Rs87.15 per kg, ghee Handi by Rs110.76per kg, Super Basmati rice by Rs22.93per kg, and rice Sella by Rs25.28per kg. – INP