Inflation soars by 12pc

[LahoreEstate]

ISLAMABAD - Inflation based on Sensitive Price Indicator (SPI) has surged by 12.01 percent in the week ended on December 17 as compared to the corresponding period of the last financial year, Federal Bureau of Statistics reported on Saturday.
According to the figures released, SPI based inflation has decreased by 0.26 percent on a weekly basis for all income groups. Meanwhile for the lowest income group, inflation has ballooned by 13.59 percent in the period under review while declined by 0.26 percent in a week’s time.
For the second lowest income group, having income up to Rs. 5000 per month, the SPI on yearly basis soared by 12.88 percent and the income group of up to Rs. 12,000 per month saw a growth of 12.08 percent. On year-on-year basis, inflation accelerated by 11.63 percent for the highest income group of above Rs. 12,000, while on weekly basis it came down by 0.22 percent for the same group.
According to Federal Bureau of Statistics, out of 53 commodities, rates of 15 items soared while prices of 11 products declined and 27 remained unchanged in a week’s period.
Prices of the following goods increased both on a yearly and weekly basis. On a yearly basis, the goods witnessing price rise include: egg 5.87 percent, bananas 11.28 percent, washing soap 1.83 percent, shirting 3.23 percent, vegetable ghee 23.83 percent, tea 21.84 percent, red chillies 19.85 percent, mash pulse washed 68.87 percent, curd 13.70 percent, LPG (11 kg cylinder) 53.09 percent, fresh milk 14.96 percent, wheat 6 per cent and moong pulse washed 57.33 per cent.
On year-on-year basis, the prices of the following commodities fell on a weekly pattern: tomatoes 14.05 percent, potatoes 9.28 percent, onions 5.74 per cent, chicken 4.15 percent, gur 1.44 percent, garlic 1.26 percent, gram pulse washed 0.82 percent, sugar 0.77 percent, firewood 0.39 percent, masoor pulse washed 0.28 percent and wheat flour 0.14 percent in the period under review.
The prices of the following items remained unchanged on weekly basis but surged on an annual pattern including beef 20.10 percent, mutton 17.13 percent, bread plain 7.60 percent, milk powdered 5.88 percent, and salt 10.61 percent.


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