Sharp rise in food prices pushes inflation up – Journal
ISLAMABAD: Inflation as measured by the Sensitive Price Index (SPI) posted an increase of 0.08% for the week ended January 6, driven by a sharp increase in the prices of essential food and non-food items, according to released data by the Pakistan Bureau of Statistics (PBS) showed on Friday.
PBS data showed that SPI-based inflation showed positive growth after falling last week. In November, the highest jump of 1.81 pc in weekly inflation was recorded.
For the lowest income group earning less than Rs 17,732 per month the SPI decreased by 0.28 pc and for the group earning above Rs 44,175 it increased by 0.22 pc.
The overall increase was mainly due to a 5.23 pc increase in the price of potatoes, followed by chicken by 4.45 pc, bananas by 2.56 pc, onions by 2.12 pc, masoor legume. 1.55 pc, gram legumes 1.46 pc and mashed legumes 1.44 pc. In non-food items, the prices of diesel and salt increased by 2.75 pc each, gasoline by 2.68 pc and matchbox by 1.45 pc.
Items that fell in price during the week included tomatoes 18.28 pc, chilli powder 14.54 pc, eggs 2.23 pc, LPG 0.96 pc, Irri rice 0.17 pc , wheat flour 0.06 pc and mustard oil 0.05 pc. During the week, out of 51 items, the prices of 25 items increased, seven items decreased and 19 items remained constant.
Posted in Dawn, January 8, 2022