SPI-based weekly inflation rises 1.01pc – Latest News – The Nation


ISLAMABAD – Inflation continues to rise in Pakistan as weekly inflation based on the sensitive price index rose again by 1.01% last week due to the impact of the massive increase in prices of petroleum products.
Inflation based on the SPI is on the rise compared to the last few weeks, mainly due to the depreciation of the currency as well as the massive increase in the prices of petroleum products. Over the past month, prices for petroleum products have been raised to as much as Rs 119 per liter to revive the stalled lending program of the International Monetary Fund (IMF). SPI-based inflation rose 1.01% in the week ended June 23, according to the latest data from the Pakistan Bureau of Statistics (PBS). The SPI was recorded at 190.98 points during the week ended June 23 against 189.07 points during the week ended June 10. On an annual basis, weekly inflation increased by 28.05%.
Economic experts are of the opinion that inflation will pick up further in the coming weeks as the government plans to raise electricity and gas prices. Oil prices would have to rise to meet IMF conditions imposing a tax of Rs 10 per liter and a general sales tax.
According to PBS data, the sensitive price indicator for the lowest consumer group up to Rs 17,732 saw an increase of 1.35% and rose to 197.06 points this week from 194.44 points. last week. Meanwhile, the SPI for consumer groups of Rs17,732-22,888; Rs22,889-29,517; Rs29,518-44,175 and above Rs 44,175 also increased by 1.30%, 1.23%, 1.15% and 0.82% respectively.
During the week, out of 51 items, the prices of 32 (62.75%) items increased, 04 (7.84%) items decreased and 15 (29.41%) items remained stable.
The SPI for the current week ended June 23, 2022 recorded an increase of 1.01%. An increase was observed in the prices of pulses (8.02%), onions (5.43%), moong of pulses (5.21%), 5 liter cooking oil (4 .60%), mashed pulses (4.27%), vegetable ghee. 2.5 kg (3.97 percent), eggs (3.96 percent), vegetable ghee 1 kg (3.75 percent), masoor legumes (3.71 percent), potatoes (2.12 percent), wheat flour (2.08 percent), fresh milk (1.78 percent) and beef (1.48 percent) with a joint impact of (1.18 percent) in the overall GPI for combined group of (1.01%).
On the other hand, a drop was observed in the prices of tomatoes (9.14%), chicken (6.36%), bananas (0.68%) and mustard oil (0.33%). ).
The prices of the following products remained unchanged: salt powder, chili powder, long cloth, printed grass, men’s sandal, men’s sponge, electricity costs, gas costs up to 3.3719 MMBTU, box of matches, whole firewood, box of matches, premium gasoline, high-speed diesel and phone call charges.
The year-on-year trend shows an increase of 28.05%, diesel (132.61%), onions (128.92%), gasoline (110.16%), vegetable ghee 1 kg (85.74%), legumes masoor (81.73%). ), mustard oil (79.59 percent), cooking oil 5 liters (76.91 percent), vegetable ghee 2.5 kg (73.02 percent), tomatoes (72.33 percent), garlic (54.03 percent), laundry (52.73 percent), sponge chappal gents (52.21%), LPG (49.65%) and pulses (46.46%), while a significant drop has was observed in the prices of chili powder (43.42%), sugar (10.58%), moong pulses (10.40%), electricity costs for the first quarter (5.85%) and gur (1.58%).

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