INP-WealthPk
Weekly Inflation Up by 17.87% Year-On-Year
April 14, 2022
By Irfan Ahmed
ISLAMABAD, April 14 (INP-WealthPK): The sensitive price index (SPI) witnessed an increase of 17.87% for the combined consumption group during the week ending April 7 compared to the corresponding week of the last year (April 08, 2021), reports WealthPK.
According to the Pakistan Bureau of Statistics (PBS), food items registering an increase in prices year-on-year included tomatoes (223.16%), onions (82.21%), bananas (28.07%), garlic (76.45%), cooking oil 5 litre (57.86%), vegetable ghee 2.5kg (57.67%), pulse masoor (38.47%), mustard oil (57.55%), vegetable ghee 1kg (56.88%), and non-food items including washing soap (39.60%), petrol (35.25%), LPG (79.21%), and diesel (27.00%).
On the other hand, a major decrease was observed in the prices of chilies powder (39.50%), pulse Moong (28.61%), eggs (22.39%), potatoes (13.38%), and sugar (11.45%).
According to the PBS data, the combined index was at 174.45 points on April 7, 2022 compared to 171.82 points on March 31, 2022, while the index was recorded at 148.00 points on April 8, 2021.
During the week, out of 51 items, prices of 22 (43.14%) items increased, 8 (15.68%) items decreased and 21 (41.18%) items remained stable. Tomato was one of the key commodities that increased the weekly inflation, with its price increasing 52.75% 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 1.53%.
Food commodities that saw an increase in prices included onions (27.34%), bananas (12.24%), garlic (2.80%), beef with bone (2.74%), mutton (2.70%), cooked daal at average hotel (2.29%), salt powdered (1.70%), vegetable ghee 2.5kg tin (1.35%), vegetable ghee 5kg tin (0.96%), powdered milk Nido (0.46%), eggs (0.41%), pulse gram & pulse masoor (0.33%), tea Lipton (0.23%), mustard oil (0.23%), milk fresh (0.21%), and non-food items, including LPG (0.58%), lawn printed (0.68%), Sufi Washing Soap (0.36%), firewood whole (0.29%), and energy saver Philips (0.19%).
On the other hand, a decrease was observed in the prices of chilies powdered (3.29%), chicken (2.92%), potatoes (0.91%), wheat flour (0.68%), gur (0.54%), pulse mash (0.33%), sugar (0.09%) and pulse Moong (0.01%).
Alternatively, the prices of 21 items remained stable including rice Basmati Broken, rice IRRI, bread plain, curd (Dahi), cooked beef per plate, cooked daal at average hotel, tea prepared ordinary, long cloth 57" Gul Ahmed/Al Karam, shirting, georgette, gents sandal Bata, gents’ sponge chappal Bata, ladies sandal Bata, electricity, gas charges up to 3.3719MMBTU, matchbox, petrol super, hi-speed diesel, toilet soap Lifebuoy, and telephone call charges.
The SPI for the lowest consumption group up to Rs17,732 per month salary observed an increase of 1.85% and went up to 184.35 points during the week under review from 181.01 points last week. On a yearly basis, an analysis of SPI change across different income segments showed that SPI increased across all quintiles ranging between 16.13% and 18.47%.
Yearly inflation for the group with a monthly income from Rs29,518 to Rs44,175 (Q4) increased by 17.71%, while the highest income group with a monthly income above Rs44,175 recorded an increase of 18.47%.
Similarly, weekly inflation for the group with a monthly income from Rs22,889 to Rs29,517 (Q3) increased by 1.65%, and by 1.83% for the group with a monthly income from Rs17,733 to Rs22,888 (Q2).
In addition, there’s a mild difference between the prices of utility stores and the open market (April 7, 2022). The utility stores’ prices are comparatively lesser than the open market. The Utility Stores Corporation is giving a special subsidy to the consumers on pulses, flour, sugar, rice, and ghee under the government’s relief package.
The government has reduced the prices of commodities available at the utility stores, including 20kg flour by Rs222.73, pulse Masoor by Rs2.44 per kg, Chana by Rs3.85 per kg, sugar by Rs1.62 per kg, different varieties of ghee by Rs102.41kg and Rs137.33 per kg, and different varieties of rice by Rs18.58, Rs9.22 and Rs28.14 per kg.
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Source: Pakistan Bureau of Statistics[/caption]
