Weakly Sensitive Price Index (SPI) rose sharply to record high of 42.3%

 The inflation measured by Sensitive Price Index (SPI) rose by 3.35percent over last week ended on August18

According to the data released by Pakistan bureau of Statistics (PBS), weekly Inflation measured by the Sensitive Price Index (SPI) rose sharply to record high of 42.3percent in the week that ended on August 18.  Before this, the highest ever year-on-year increase in the SPI was 38.63percent, recorded for the week ending on August 5.

The sharp increase in the prices of vegetables and chicken mainly contributed in the rise of weekly SPI. The torrential rains caused floods in parts of Balochistan and Sindh which disrupted the supply of vegetables, fruits and other food stuff. The prices of tomatoes rises 20.28%, Chicken 7.57%, electricity 6.83% and onions 2.30% during the last week.

On year –on –year basis, the prices of Masoor pulse increased by 111.02%, Diesel 108.77%,petrol 94.53%, onions 94.43% and cooking oil 72.96%. 

 Latest data shows that the SPI rose by 3.35pc over last week, mainly because of higher food prices. The highest week-on-week increase in inflation was recorded at 3.68pc for the week that ended on July 28.

The SPI monitors prices of 51 essential items based on a survey of 50 markets in 17 cities of the country. During the week under review, the prices of 25 out of 51 items increased, 11 decreased and 15 remained stable.

The SPI increased week-on-week by 1.80pc for the lowest income group (i.e., people earning below Rs17, 732 per month) and by 3.94pc for the group with a monthly income of above Rs44, 175.

                                                                   Rukhsana Manzoor deputy editor

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