SPI-Based Weekly Inflation Goes Up By 0.82 Percent.

ISLAMABAD -- Inflation based through Sensitive Price Index (SPI) has shown an increase of 0.82 percent during the week ended on August 4 mainly due to the hike in petroleum products prices and the recent rains across the country that have also caused damage to the standing crops.

The SPI based inflation has recorded minor increase of 0.82 percent during the week ended on August 4 over the preceding week, according to the latest data of Pakistan Bureau of Statistics (PBS). The SPI was recorded at 209.17 points during the week ended on August 4 as compared to 207.47 point during the week ended on July 28. On annual basis, the weekly inflation has enhanced by 38.63 percent.

The SPI-based inflation is on the upward side from last several weeks mainly due to the currency depreciation as well as massive increase in petroleum products prices. For the current fortnight, the government had reduced the price of petrol and increased that of diesel and kerosene. Another factor behind inflation is recent floods in different parts of the country. The recent rains across the country have also caused damage to the standing crops as a result of which vegetables prices are likely to stay high amid short supplies. The massive increase in electricity tariff is another factor that contributed to the price spike.

According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 1.16 percent increase and went up to 216.03 points this week from 213.55 points in last week. Meanwhile, the SPI for the consumption groups from Rs17,732-22,888; Rs22,889-29,517; Rs29,518-44,175 and above Rs 44,175 also increased by 1.07 percent, 0.98 percent, 0.91 percent and 0.69 percent respectively.

During the week, out of 51 items, prices of 33 (64.71 percent) items increased, 04 (7.84 percent) items decreased and 14 (27.45 percent) items remained stable.

The SPI for the current week ended on 04th August, 2022 recorded an increase of 0.82 percent. Increase was observed in the prices of...