SPI up by 12.79 percent

For the poor there has been no respite as continual increase in the prices of essential commodities pushed the SPI-based inflation by 10.74 percent during week ending on September 20 over the same period of last year, with dearness going up to 12.79 percent for low income group.
The data on weekly SPI released by the Federal Bureau of Statistics on Saturday showed that on weekly basis inflation was up by 0.43 percent over the previous week, lifting the SPI to 10.74 percent on September 20 against 10.02 percent on September 13.
It was witnessed that the prices of essential commodities had gone up manifold just at the onset of Ramazan, and might go unchecked during the rest of Ramazan. The administration seemed least interested in keeping a check on prices, varying from shop to shop and market to market, a trend unthinkable in a majority of the nations. Unfortunately, the practice is very much common here. The local governments have also not taken effective step to practically regulate the prices.
The SPI bulletin, based on data collected for about 53 items from 17 centres showed increase in the prices of 14 essential food items, decrease in 13, and 26 remained stable.
The FBS data showed that there had been an increase in the prices of wheat flour average quality of which is up by 5.83 percent per kilogram whereas wheat of average quality has also gone up from Rs 13 per kilogram to Rs 14.71 per kilogram. The food inflation was 12.79 percent for those earning Rs 3000 and 12.67 percent for those earning between Rs 3000 to Rs 5,000.
Further analysis of the data showed that the price of eggs was 5.27 percent up during this week over last week; LPG 11-kg cylinder up 4.68 percent, bananas per dozen 2.87 percent, mustard oil 1.69 percent per kilogram, bread plain was 160 percent up, vegetable ghee 1.20 per cent, rice basmati 0.84 percent, and tomatoes were by 0.73 percent per kilogram.
The combined SPI recorded 160.05 percent on September 6, 2007 which shoot up to 162.11 percent on September 13, 2007 and went up to 162.81 percent, showing an increase of 0.43 percent. The inflation was recorded 12.79 percent for Rs 3000 earner against 8.10 percent for those earning above Rs 12000.
The week under review showed that price hike was 12.67 percent for those earning Rs 3000 to Rs 5000 and 11.64 percent for those earning between Rs 5001 and Rs 12000. Further analysis of the data showed that 21 items were dearer by double digits over last year.