Sensitive Price Index falls to 6.13pc: Asad Umar

The Sensitive Price Index (SPI) in Pakistan has fallen to 6.13 percent, according to a recent tweet by Asad Umar, Minister of Finance.

While the year-on-year trend depicts an increase of 6.13% in SPI, Asad Umar explains that it is the lowest level of SPI that Pakistan has achieved in the last two years under its current government.

The Sensitive Price Indicator indicates the price movements of essential commodities at shorter interval of time. SPI comprises of 51 essential items and the prices are being collected from 50 markets in 17 cities of the country.

The SPI for the current week ended on 31st December, 2020 recorded a decrease of 0.69% over the last week, according to the weekly data collected by the Pakistan Bureau of Statistics (PBS).

Prices of onions, potatoes, chicken, tomatoes, garlic, pulse gram, bananas, pulse masoor and gur have decreased in the week ending on the 31st of December, 2020 as compared to the previous week, while prices of sugar and pulse mash witnessed a week-on-week increase.

Multiple actions taken by the government have resulted in a sharp slow down of inflation in the last few months, according to the Finance Minister.