No respite for poor as prices increase on daily basis

The SPI-based inflation was 8.13 percent up during week ending on August 30 over the same period of last year, as dearness has been 9.46 percent for the low income group against 6.07 percent for those earning over Rs 12, 000 per month.
The data released by Federal Bureau of Statistics (FBS) on Saturday showed no respite for the poor. The prices of kitchen items have been increasing regularly without an iota of relief. Persistent increase in the prices of essential kitchen items has been eroding the budget of those who earn between Rs 3000 and Rs 5000.
Wheat flour was 12.75 percent up against same period of last year whereas wheat was 9.60 percent dearer, and cooking oil 31.50 percent up. Regular increase in the prices of core food items such as wheat, cooking oil, pulses and milk have been disturbing the budget of the poorer.
Moreover, there has been no check on prices varying from market to market resulting in disputes among vendors and buyers. The section in the local government system that provides mechanism to regulate the market prices was flatly ignored.
The SPI inflation was recorded 160 percent on August 30, 0.49 percent up against 159.22 over previous week. The low-income group was more affected by the price hike, as inflation was recorded at 9.46 percent for Rs 3000 earner against 6.07 percent for those earning above Rs 12000.
The week under review showed that price hike was 9.29 percent for people earning Rs 3000 to Rs 5000 and 8.58 percent for those earning between Rs 5001 and Rs 12000. The SPI bulletin, based on data collected for about 53 items from 17 centres, showed that 22 items registered increase, 5 declined, while 26 remained unchanged.
Further analysis of the data showed that 22 items were dearer by double digits over last year. These were onions 33.33 percent, chicken (farm) 16.11 percent, egg hen (farm) 26.17 percent, rice Irri 6, 43 percent, veg ghee (tin) 31.42 percent, cooking oil (tin) 31.50 percent, wheat flour average quality 12.75 percent, masoor pulse washed 32.15 percent, firewood 11.98 percent, milk fresh 13.36 percent, red chillies 78.15 percent, rice basmati broken 54.79 percent, milk powdered Nido 30.06 percent, curd 12.87 percent, sandals gents Bata 25.06 percent, and match box 26.15 percent.