SPI surges by 10.92 percent

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SPI surges by 10.92 percent
RECORDER REPORT
ISLAMABAD (May 24 2009): Weekly inflation measured through SPI surged by 10.92 percent on the week ending May 21 over the same period of last year on the back of increase in the prices of 18 essential commodities. Official figures released by the Federal Bureau of Statistics on Saturday showed steep increase in the price of vegetable ghee and cooking oil during the week.

Price of 2.5kg ghee went up from Rs 327.65 to Rs 350 and 2.5 liter cooking oil from Rs 351.29 to Rs 358. The FBS determines SPI by collecting prices of 53 items from 17 urban centers on a weekly basis. The rise in the price of kitchen items is considerably higher in the local markets relative to the statistics released by the FBS.

A price differential of Rs 21 was noted in per kg mutton and Rs 6 in potatoes, which are higher in the local market compared to the price quoted by the FBS. Similarly, the price differential was noted in other kitchen items such as beef, sugar, and pulses, etc.

According to the FBS with 0.27 percent increase in inflation during the week, the dearness for low income group up to Rs 3,000 was noted 10.84 percent and for Rs 3001 to Rs 5000 it surged to 11.27 percent after an increase of 0.32 percent during the week. The dearness for Rs 5001 to Rs 12000 was noted 12.87 percent following an increase of 0.44 percent during the week and for above Rs 12000 it was 11.53 percent.

SPI for the combined group registered an increase of 0.46 percent during the week under review as compared to the previous week with statistics showing that it increased from 212.53 to 213.20. With this increase, the price of 18 essential commodities registered an increase and price of 9 commodities registered decrease whereas the price of 26 commodities remained unchanged during the period under review.

The price of per kg potatoes increased from Rs 15.59 to Rs 16.59, dozen bananas from Rs 41.39 to Rs 42.44, 2.5 kg cooking oil (tin) from Rs 531.29 to Rs 358, per kg milk (fresh) from Rs 38.87 to Rs 39.60, kg gur from Rs 55.56 to Rs 56.58, kg curd from Rs 45.76 to Rs 46.30, kg moong pulse (washed) from Rs 47.30 to Rs 47.71, cup tea (prepared) from Rs 8.77 to Rs 8.83, kg sugar from Rs 44.74 to Rs 45.04, kg mash pulse (washed) from Rs 83.80to Rs 84.26, kg vegetable ghee (loose) from Rs 110.45 to Rs 110.86, kg gram pulse (washed), from Rs 48.18 to Rs 48.33, kg beef from Rs 153.83 to Rs 154.27, kg mutton from Rs 278.70 to Rs 279.39, kg rice irri-6 from Rs 34.53 to Rs 34.59, kg tomatoes from Rs 16.94 to Rs 16.96 and red chillies from Rs 129.17 to Rs 128.28.

Average prices of onions, wheat (average quality), LPG (11-kg cylinder), egg hen (farm), garlic, wheat flour (average quality), chicken (farm), firewood, masoor pulse (washed) marginally declined during the week, FBS said.

The price of rice (Basmati broken), bread plain (mid size), milk (powdered), mustard oil, salt (powdered), tea (packet), cooked beef, cooked dal, cigarettes, coarse latha, lawn, voil (printed), shirting, sandal (gents), sandal (ladies), chappal, kerosene, electricity bulb (60wats), match box, washing soap, bath soap, gas charges (up to 3.3719 MMBTU), electricity charges (1-100 unit), petrol, diesel and telephone local call remained unchanged, according to the FBS statistics.

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