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ISLAMABAD: The weekly SPI inflation for the week ended on 10th August 2023 increased by 0.69 percent following an increase in the prices of essential commodities.

According to the Sensitive Price Indicator (SPI) data released by the Pakistan Bureau of Statics released on Friday, out of 52 items, the prices of 29 items witnessed an increase during the week.

The SPI is computed on a weekly basis to assess the price movement of 51 essential commodities at shorter interval of time so as to review the price situation after collecting data from 50 markets in 17 cities of the country.

According to the PBS during the week, out of 51 items, prices of 29 (56.87 per cent) items increased, five (9.80 per cent) items decreased, and 17 (33.33 per cent) items remained stable.

The major food items which recorded an increase during the week over previous week included chillies powder increased by (3.72 per cent), powdered milk (3.65 per cent), maash (3.13 per cent), garlic (2.39 per cent), sugar (2.30 per cent), chicken (2.27 per cent), salt (1.84 per cent), eggs (1.74 per cent), and non-food item, electricity for quantile (Q1) increased by (1.75 per cent) etc.

The prices of five items which witnessed a decrease during the week over the previous week included vegetable ghee 1kg (1.59 per cent), LPG (0.79 per cent), cooking oil (0.78 per cent), mustard oil (0.48 per cent) and vegetable ghee 2.5 kg (0.10 per cent), whereas, the prices of 17 items (33.33 per cent) remained stable during the week.

The WoW SPI for the consumption group up to Rs17,732 increased 0.76per cent, Rs17,732 to Rs22,888increased 0.68 per cent, Rs22,889 to Rs29,517 increase 0.75 per cent, whereas, for consumption Quantile Rs29,518 to Rs44,175 increased by 0.77 per cent and for above Rs44,175 increased 0. 57 per cent

The year-on-year basis trend depicts an increase of 30.82 per cent, wheat flour price increased (131.81 per cent), cigarettes (109.57 per cent), gas charges for Quantile (Q1) (108.38 per cent), tea Lipton (95.19 per cent), rice basmati broken (84.09 per cent), chilies powder (72.94 per cent), rice irri-6/9 (72.74 per cent), sugar (67.90 per cent), chicken (65.87), gur (58.93 per cent), gents sponge chappal (58.05 per cent), potatoes (57.02 per cent), and tomatoes (53.66 per cent).

The items which recorded a decrease included onions (28.77 per cent), electricity for Q1 (16.63 per cent), masoor (16.04 per cent), and vegetable ghee 1kg (1.93 per cent).

Copyright Business Recorder, 2023

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