Weekly-based SPI inflation is hitting low-income group the hardest as during the week ending July 5, it stood at 9.66 percent for the low-income group and 5.85 percent for the high-income earners. According to statistics released by the Federal Board of Statistic on Saturday.
The Sensitive Price Indicator (SPI) is up 7.65 percent compared to the same period last year with 0.19 percent surge in a week. The SPI inflation is recorded 155.05 on July 5 against 153.62 on June 28.
Increasing prices of essential commodities have been hitting hard the low-income group, as inflation was 9.66 percent for the group earning Rs 3000 against 5.85 percent for those having income above Rs 12,000. The inflation was 9.53 percent during the week under review for the income group of between Rs 3000 to Rs 5000 and 8.68 for those having income between Rs 5000 to Rs 12,000.
There was an exorbitant increase in prices of onion, fresh milk, vegetable ghee loose, cooking oil, rice, powder milk, firewood, and all varieties of pulses, which hit the low-income group the hardest. The bulletin on SPI, based on data collected for about 53 items from 17 centres, showed that 22 items registered increase, and seven items showed decline, while prices of 24 items remained unchanged. However, further analysis revealed that year on year basis; 18 items are dearer by double digits.
These include; red chillies 67 percent farm egg 65 percent, rice irri-6 38 percent, onions 34 percent, mustard oil 29 percent, vegetable ghee (tin) 27 percent, cooking oil (tin) 27 percent, masoor pulse washed 16percent and wheat flour price increased by 12percent, vegetable ghee loose by 45.68 percent, milk powder by 21.53 percent, fresh milk by 12.27percent, curd by 10.88percent, cooked beef plate by 10.10 percent.
Among these items, in a short span of one week the prices of onions increased by 22.85 percent, farm egg 11.46 percent, potatoes 9.49percent, L.P.G (11-kg cylinder) 1.91 percent, wheat 1.59 percent, gram pulse 1.49 percent and wheat flour by 1.13 percent over the previous week. However, the prices of cement have come down from an average price of Rs 293.25 per bag on June 6 to Rs 234.50 per bag on July 5, showing a decline of 20.03 percent.
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