Govt efforts against food inflation showing results, says Umar as weekly inflation falls

• Since mid January the Year on Year (YoY) SPI has decreased by more than 5pc, says Umar.
• The weekly inflation during week ended February 27 against February 20 has witnessed a decline of 1.16 percent.

Federal Minister for Planning, Development and Special Initiatives Asad Umar has said that the government efforts to counter food inflation is bearing fruits after the latest data showed decline in inflation.

“Latest Sensitive Price Index (SPI) data released today shows lowest SPI increase in last three and a half months. Since mid January the Year on Year (YoY) SPI has decreased by more than 5pc. Focused efforts to deal with food inflation in particular showing results,” said Umar in a tweet.

Latest sensitive price index( SPI) data released today shows lowest SPI increase in last 3 and a half months. Since mid january the year on year SPI has decreased by more than 5%. Focused efforts to deal with food inflation in particular showing results.

— Asad Umar (@Asad_Umar) February 28, 2020

Sensitive Price Indicator (SPI, on week-on-week (WoW) basis the weekly inflation during week ended February 27 against February 20 has witnessed a decline of 1.16 percent for combined income groups from 130.67 points to 129.16 points, the SPI data released by the Pakistan Bureau of Statistic (PBS) said.

However, on year-on-year (YoY) basis during (February 28, 2019 to February 27, 2020) has witnessed an increase of 14.60 percent from 112.70 points to 129.15 points

The SPI for the lowest income group with monthly income up to Rs17,732 witnessed a reduction of 1.34 percent from 134.03 points to 132.23 points on WoW basis and on YoY basis it went up by 12.95 percent from 117.07 points to 132.23 points, the PBS added.