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June 18, 2019

Weekly SPI inflation rises 0.31 percent

Business

June 18, 2019

KARACHI: The sensitive price indicator (SPI) for the week ended June 13 increased 0.31 percent over the previous week, and rose a whopping 13.12 percent as compared to weekly inflation in the corresponding period last year, official data showed on Monday.

Pakistan Bureau of Statistics (PBS) data showed that weekly inflation for the combined income group continued with its upward trend, recording at 257.63 points against 256.83 points last week.

SPI for income group of up to Rs8,000 increased the highest at 0.59 percent during the week under review as compared to the preceding week, while registering 11.13 percent compared

to weekly inflation in the corresponding period last year.

Weekly inflation for the group earning Rs8,001 to Rs12,000 increased by 0.44 percent. The SPI for the people earning between Rs12,001 and Rs18,000 increased up to 0.36; and for those making Rs18,001 and Rs35,000 it went up 0.28 percent.

The income group earning above Rs35,000 recorded the lowest increase in inflation at 0.23 percent; however, the weekly SPI increased a whopping 17.01 percent for this quintile compared to the weekly inflation in the corresponding period last year.

PBS computes weekly price trend of 53 essential items from 17 urban centres. Average prices of 12 goods increased during the week ended on June 13 over the previous week. The items which recorded the highest increase in average prices were cigarettes, potatoes, sugar, moong pulse, wheat flour, garlic, gur, soap, mash pulse, bread, wheat, mutton, milk (fresh), curd, beef, cooked beef, kerosene oil, vegetable ghee, onions and mustard oil.

The items which registered decrease in their prices during the week under review included tomatoes, chicken, bananas, LPG Cylinder, eggs, red chilli, masoor pulse, and gram pulse.

Similarly, the items which recorded no change in their prices included rice (basmati broken), rice (irri-6), powdered milk, cooking oil, vegetable ghee, powdered salt, tea packet, cooked daal, prepared tea, long cloth, shirting, lawn, georgette, gents sandal, gents chappal, ladies sandal, electricity charges, gas charges, firewood, electric bulb, washing soap, match box, petrol, diesel and telephone local call.

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