Weekly inflation rises by 15.90 percent

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annual inflation

ISLAMABAD: The inflation based on sensitive price indicator (SPI) for the week ending February 24 witnessed an increase of 15.90% for the combined consumption group compared to the corresponding week of the last year (Feb 25, 2021), WealthPK reported Saturday.
According to Pakistan Bureau of Statistics (PBS), on a year-on-year basis, the commodities registering an increase in prices included food items like tomatoes (366.42%), garlic (51.69%), mustard oil (50.74%), cooking oil 5-litre (41.81%), vegetable ghee 1kg (38.36%), vegetable ghee 2.5kg (38.11%), pulse Masoor (36.94%); and non-food items like LPG (57.12%), Petrol Super (42.28%) washing soap 250gm (37.78%), and High-Speed Diesel (32.26%).
On the other hand, a major decrease was observed in the prices of chillies powder (36.30%), pulse Moong (29.33%), sugar (5.36%), onions (4.04%), potatoes (3.71%), and eggs (0.61%).
According to the PBS data, the combined index was at 170.47 points on February 24 compared to 169.61 points on February 17, while the index was recorded at 147.09 a year ago on February 25, 2021.
During the week under review, out of 51 items, prices of 20 (39.22%) items increased, 11 (21.56%) items decreased and 20 (39.22%) items remained stable. Chicken was one of the key commodities that increased the weekly inflation, with prices increasing 14.46% on a week-on-week basis.
Meanwhile, compared to the previous week, the SPI for the combined consumption group in the week under review witnessed an increase of 0.51%.
Food commodities that saw an increase in prices included chicken (14.46%), tomatoes (3.63%), bananas (3.86%), mustard oil (2.96%), tea prepared ordinary (1.72%), tea Lipton Yellow Label 190gm (0.69%), cooked Daal at an average hotel (0.53%), vegetable ghee Dalda/Habib 2.5kg tin (0.52%), sugar refined (0.46%), beef with bone (0.30%), vegetable ghee (0.21%), mutton (0.14%), wheat flour bag (0.10%), milk fresh (0.06%), curd (0.03%) and rice Basmati broken (0.02%).
In non-food items, energy saver Philips 14 watts saw 0.83% surge in price. An increase was also seen in toilet soap (0.26%), Sufi Washing Soap 250gm (0.11%), and long cloth 57″ Gul Ahmed/Al Karam (0.08%).
On the other hand, a decrease was observed in the prices of garlic (5.28%), eggs (2.60%), onions (2.63%), pulse Moong (0.90%), potatoes (2.00%), gur (0.75%), pulse Masoor (0.11%), pulse Gram (0.27%), LPG (0.76%), pulse Maash (0.02%) and firewood whole (0.02%).
Alternatively, the prices of 12 items remained stable, including rice IRRI-6/9 1kg, bread plain (small size), powdered milk NIDO 390gm, cooking oil Dalda 5-litre tin, salt powdered (National/Shan) 800gm packet, chilies powdered National 200gm packet, cooked beef at the average hotel per plate, cigarettes Capstan packet, shirting (average quality) 1-metre, lawn printed Gul Ahmed/Al Karam 1-metre, georgette (average quality) 1-metre, gents sandal Bata pair, gents sponge chappal Bata pair, ladies sandal Bata pair, electricity charges, gas charges up to 3.3719MMBTU, matchbox, Petrol Super per litre, High-Speed Diesel per litre and telephone call charges.
The SPI for the lowest consumption group earning up to Rs17,732 per month recorded an increase of 0.34%, going up to 177.88 points this week from 177.28 points last week.
On a yearly basis, analysis of SPI change across different income segments showed it increased across all quintiles ranging between 12.33% and 15.90%.
Yearly inflation for the group with monthly income from Rs29,518 to Rs44,175 (Q4) increased by 15.65%, while the highest income group with monthly income above Rs44,175 recorded an increase of 17.34%.
In addition, there was a mild price difference between the prices of utility stores and open market (Feb 24, 2022). The utility stores prices were comparatively lesser than the open market.
The Utility Stores Corporation is giving a special subsidy to the consumers on pluses, flour, sugar, rice and ghee under the government’s relief package. – INP