SPI-based inflation up 0.49pc WoW

ISLAMABAD - The Sensitive Price Indicator (SPI)-based inflation surged by 0.49 percent on a Week-on-Week basis for the week concluding August 20, largely attributed to elevated prices of onions (+14.17%), petrol (+3.77%), chicken (+3.35%), and garlic (+2%). Additional goods showing price increases were gram pulses (+0.93%), tea (+0.70%), Lipton tea (+0.34%), fresh milk (+0.17%), cooked dal (+0.15%), washing soap (+0.12%), cigarettes (+0.06%), and shirts (+0.01%).

Conversely, significant price cuts were observed for eggs (-5.78%), diesel (-5.15%), tomatoes (-4.99%), potatoes (-1.17%), LPG (-1.04%), bananas (-0.91%), gram moong (-0.56%), sugar (-0.24%), gram masoor (-0.14%), and gram mash (-0.14%).

On a Year-on-Year basis, SPI rose by 9.66%, propelled by sharp price hikes in onions (+132.52%), tomatoes (+93.21%), wheat flour (+62.25%), LPG (+51.69%), diesel (+33.08%), petrol (+27.65%), and electricity for Q1 (+22.72%). Conversely, SPI declined for potatoes (-30.01%), sugar (-19.10%), chicken (-17.68%), eggs (-17.41%), salt powder (-13.96%), gram (+13.02%), masoor (+12.29%), and Gur (+6.01%).

Analyzing SPI by income groups, households earning up to Rs17,732 experienced a 0.38% increase, with SPI climbing from 348.71 to 350.03 points. For the Rs17,733-22,888 bracket, SPI surged by 0.41%, rising from 349.48 to 350.90 points. Households in the Rs22,889-29,517 range witnessed a 0.40% increase, escalating from 370.70 to 372.18 points. The highest income group (Rs44,175 and above) noted a 0.55% rise, pushing SPI up from 357.31 to 359.26 points.