ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on July 2, for the combined consumption group, witnessed an increase of 2.29 per cent compared to the previous week, mainly due to the increase in fuel prices in the country.
The SPI inflation for the week under review for the combined consumption group was recorded at 132.32 points compared to 129.36 points registered in the previous week, according to the latest data issued by the Pakistan Bureau of Statistics (PBS).
As compared to the corresponding week of last year, the SPI inflation for the combined consumption group in the week under review witnessed an increase of 9.77 per cent.
The weekly SPI with base year 2015-16 covers 17 urban centres and 51 essential items for all expenditure groups.
The SPI for the lowest consumption group up to Rs17,732 witnessed a 0.89 per cent increase and went up from 137.02 points in the last week to 138.24 points during the week under review.
Meanwhile, SPI for the consumption groups from Rs17,732 to Rs22,888, Rs22,889 to Rs29,517, Rs29,518 to Rs44,175 and above Rs44,175 per month also increased by 1.24 per cent, 1.47 per cent; 1.87 per cent and 2.90 per cent respectively.
During the week, prices of seven items decreased, prices of 18 items increased while prices of 26 items remained constant.
The items which recorded a decrease in their average price include moong pulse, masoor pulse, gram pulse, garlic, bananas, mustard oil and potatoes.
The commodities which recorded an increase in their average price include petrol, hi-speed diesel, tomatoes, chillies, LPG cylinders, onions, chicken, eggs, gur, cigarettes, mash pulse, cooked daal, wheat flour, cooked beef, sugar, basmati broken rice, mutton and beef.
Similarly, prices of the commodities that observed no change during the week under review include Irri6/9 rice, bread, fresh milk fresh, curd, powdered milk, loose cooking oil, vegetable ghee, salt, tea, long cloth, shirtings, lawn, georgette, gents sandals, gents sponges, ladies sandals, electricity charges, gas charges, telephone charges, firewood, washing soap, matchbox and toilet soap.
Earlier on June 26, the federal government had increased the price of petrol by Rs25.58 per litre for the month of July in line with the hike in global crude oil prices.
According to a notification issued by the Finance Division, the price of petrol was increased from Rs74.52 to Rs100.10 per litre. Similarly, the price of diesel had gone up to Rs101.46 from Rs80.15 with an increase of Rs21.31 per litre. Diesel is used in the agriculture and transport sectors hence an increase in its price causes a rise in inflation.
