SPI increases by 13.96 percent on YoY basis

The Sensitive Price Indicator (SPI) for combined income group on year-on-year (YoY) basis has seen an increase of 13.96 percent on the week ended on May 23, 2019 over the proceeding week of 2018 as it jumped from 223.23 points to 254.39 points.
The SPI inflation data released here on Monday by Pakistan Bureau of Statistic (PBS) said that over the period SPI for the lowest income group with monthly earning of Rs 8,000 increased by 12.10 percent from 208.13 points to 233.31 points, for income group of Rs 8,000-12,000 it went up by 11.63 percent from 217.67 points to 242.99 points and for income group with monthly income of Rs 12,000-18,000 it increased by 11.21 percent from 220.30 points to 244.99 points.
Similarly, the SPI for the income group with monthly income of Rs 18,000-35,000 went up by 14.77 percent from 226.40 points to 259.83 points and for the income group with monthly income of over Rs 35,000, the SPI witnessed an increase of 17.74 percent from 226.87 points to 267.12 points. While on week on week (WoW) basis during week ended on May 23, 2019 against May 16, 2019, the SPI for the combined income group witnessed an increase of 0.33 percent from 253.56 points to 254.39 points.
The weekly inflation for the lowest income group with a monthly income of Rs 8,000 went up by 0.38 percent from 232.43 points to 233.31 points, for the income group with a monthly income of Rs 8,000 to Rs 12,000, it went up by 0.36 percent from 242.13 points to 242.99 points. The SPI inflation witnessed an increase of 0.36 percent for the income group with monthly income of Rs 12,000 to Rs 18,000 from 244.12 points to 244.99 points, for the income group with a monthly income of Rs 18,000 to Rs 35,000, the SPI went up by 0.33 percent from 258.98 points to 259.83 points and for the income group with over Rs 35,000 monthly income, the SPI jumped up by 0.29 percent from 266.34 points to 267.12 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 18 items including tomatoes, eggs, onions, bananas potatoes, wheat, Irri-6 rice, vegetable ghee, Moong pulse, mutton and beef witnessed an increase.
During the week under review, prices of 6 items including refined sugar, garlic, chicken, Masoor pulse, LPG cylinder, and gram pulse witnessed a reduction. However, prices of 29 essential kitchen items and fruits including plain bread, fresh milk, salt powder, cooked daal plate, mustard oil, gas, electricity and petroleum product prices remained unchanged.