SPI surges 12.12 percent on YoY

The Sensitive Price Indicator (SPI) for combined income group on Year on Year (YoY) basis has seen an increase of 12.12 percent on the week ended March 21, 2019 over the proceeding week of 2018 as it jumped from 221.45 points to 248.30 points. According to Pakistan Bureau of Statistic (PBS), over the period SPI for the lowest income group with monthly earning of Rs 8,000 increased by 9.02 percent from 209.09 points to 227.95 points, for income group Rs 8,000-12,000 it went up by 9.21 percent from 217.49 points to 237.53 points and for income group with monthly income of Rs 12,000-18,000 it increased by 9.15 percents from 219.33 points to 239.42 points.
SPI for the income group with monthly income of Rs 18,000-35,000 went up by 13,07 percent from 224.52 points to 253.87 points and for the income group with monthly income of over Rs 35,000 SPI witnessed an increase of 16.35 percent from 223.83 points to 260.42 points
However on Week on Week (WoW) basis during week ended on March 21, 2019 against March 14, 2019 SPI for the combined income group reduced by 0.19 percent from 248.77 points to 244.30 points.
The weekly inflation for the lowest income group with a monthly income of Rs 8,000 reduced by 0.25 percent from 228.53 points to 227.95 points, for the income group with a monthly income of Rs 8,000 to 12,000 it went down by 0.21 percent from 238.02 points to 237.53 points. The SPI inflation reduced by 0.21 percent for the income group with monthly income of Rs12,000 to Rs 18,000 from 239.93 points to 239.42 points, for the income group with a monthly income of Rs 18,000 to Rs 35,000 it witnessed a reduction of 0.20 percent from 254.37 points to 253.87 points and for the income group with over Rs 35,000 monthly income SPI reduced by 0.15 percent from 260.81 points to 260.42 points.
The weekly SPI is being computed with base 2007-08=100, covering 17 urban centres and 53 essential items for all income groups and combined.
During the week under review, prices of 22 items went up including long cloth, chicken, pulse mong washed, bananas, potatoes, Irri-6 rice, red chilli powder, refined sugar, mustard oil, pulse masoor, average quality gur, prepared tea cup, electric bulbs, beef with bones, powder milk, vegetable ghee, mutton and basmati rice.
During the week under review prices of 9 items witnessed a reduction including tomatoes, onions, eggs, LPG cylinder, wheat flour, garlic, gram pulse and wheat.
While prices of the 22 items remained stable including plain bread, fresh milk, crud, powder salt, Lipton tea, cooked beef, cooked daal, gents sandal, ladies sandals, gas and electricity charges, kerosene oil, firewood, washing soap petrol and diesel.