Weekly inflation surges by 9.49pc

RECORDER REPORT

ISLAMABAD: Weekly inflation surged by 9.49 percent on March 29, over the same period of last week on the back of continuous increase in prices of essential commodities- vegetable, fruits, cooking oil ghee and chicken etc.

The official figures of weekly inflation, Consumer Price Index (CPI), released by the Pakistan Bureau of Statistic (PBS) here on Saturday revealed that price of per kilogram cooking oil and ghee witnessed an increase of five rupee during the week.

The middle income group with income from Rs12,001 to Rs18,000 was affected most by the increase in prices of essential commodities for whom inflation surged by 0.25 percent during the week.

Analysts said that the increase in cost of energy, oil, CNG and electricity, as well as increased wheat support price would continue to shove inflation in the coming weeks and months.

They said the inflation would spike in the last months of the current fiscal year with massive increase in food inflation when the impact of Rs100 in wheat support price from Rs950 to Rs1,050 would translate in the domestic market. The price of key essential items bread (chapati), which at current is Rs5 to Rs6, is feared to increase considerably.

The SPI for the combined income group during the week under review witnessed an increased of 0.24 percent against the pervious week. The SPI increased by 0.22 percent for the lowest income group earning up to Rs 8,000 per month and for the income groups from Rs 8,001-Rs12,000, it surged by 0.24 percent.

The SPI for income group from Rs 12,001 to Rs 18,000 witnessed an increase of 0.25 percent. The inflationary impact for the highest income group earning more than Rs 35,000 per month has been at 0.23 percent.

The price of potatoes per kilogram increased to Rs 20.48 from Rs 18.97 during the week, chicken live (farm) per kg to Rs 162.54 from Rs 153.62, bananas dozen to Rs 69.76 from Rs 66.72, tomatoes per kg to Rs 38.90 from Rs37.67, cooking oil (tin) per kg to Rs 507.94 from Rs 495.00, ghee (tin) 2.5 kg to Rs 507.94 from Rs 495.00, mustard oil per kg to Rs 182.52 from Rs 179.75, bath soap lifebouy (standard) cake to Rs31.18 from Rs 30.71, milk powdered Nido (400gm) to Rs 262.06 from Rs 258.24, lawn metre to Rs 142.88 from Rs141.41, rice basmati broken per kg to Rs 60.90 from Rs 60.74, energy savor 14 watts each to Rs145.15 from Rs 144.85, rice irri-6 per kg to Rs46.04 from Rs45.99.