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ISLAMABAD: The Sensitive Prince Index (SPI) for the week ended on 8th September 2022 registered a decline of 0.58 percent, however, year-on-year an increase of 42.70 percent was recorded in the prices of essential kitchen items.

According to SPI data released by the Pakistan Bureau of Statistics (PBS) on Friday noted that during the week, out of 51 items, prices of 26 (50.98 per cent) items increased, nine (17.65per cent) items decreased, and 16 (31.37per cent) items remained stable.

The SPI is computed on weekly basis to assess the price movements of essential commodities at a short interval of time so as to review the price situation in the country. The SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.

The SPI for the week ended on 8th September 2022 recorded a decrease of 0.58per cent on the back of the decrease in the prices of onions (41.99per cent), tomatoes (8.11per cent), bananas (2.51per cent), masoor(1.37per cent), vegetable ghee 1kg (0.55per cent), cooking oil 5 litre (0.33per cent), mustard oil (0.16per cent), and vegetable ghee 2.5Kg and sugar (0.11per cent) each.

On the other hand, an increase was observed in the prices of LPG (10.66per cent), wheat flour (4.15per cent), eggs (3.96per cent), bread (3.27per cent), moong (2.74per cent), curd (2.72per cent), tea Lipton (2.50per cent), gram (1.65per cent), chicken (1.58per cent), milk fresh (1.57per cent), firewood (1.54per cent), and potatoes (1.02per cent).

The year-on-year trend depicts an increase of 42.70per cent with tomatoes (144.25per cent), diesel (114.08per cent), petrol (98.73per cent), masoor (76.34per cent), cooking oil 5 litre (67.99per cent), mustard oil (66.53per cent), LPG (64.98per cent), washing soap (64.50per cent), electricity for Q1 (63.03per cent), vegetable ghee 2.5kg (62.53per cent), pulse gram (61.02per cent), onions (59.97per cent) and vegetable ghee 1kg (58.19per cent), while a decrease was recorded in the prices of chillies powder (43.42per cent), sugar (18.07per cent), and gur (2.08per cent).

As per latest data, SPI decreased on week ended from 222.85 on September 01-09-2022 to 221.55 on week ended on September 8, 2022.

The SPI for the consumption group 01 of up (Rs17,732) decreased by 1.52 per cent for consumption group 02 (Rs17,733-Rs 22,888) by 1.28 per cent, for quintile group 03 (Rs22,889-29,517) by 0.97 per cent, Q4 (Rs29,518 - 44,175) by 0.77 per cent, and Quantile group of (above Rs44,175) by 0.25 per cent.

Copyright Business Recorder, 2022

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