Low-income group hit hard: SPI stands at 9.76 percent

Weekly SPI-based inflation has been hitting the low income group hardest as during the week ending on July 5, it stood at 9.76 percent for low-income group while only 5.06 percent for high income earner. According to statistics released by the Federal Board of Statistic on Saturday.
The Sensitive Price Indicator (SPI) was up 7.39 percent compared to the same period of last year with 0.22 percent surge in a week. The SPI inflation was recorded 155.39 on July 12 against 153.62 on June 28.
Increasing prices of essential commodities have been hitting hard the low-income group, as inflation was 9.76 percent for the group earning Rs 3000 against 5.06 percent for those having income above Rs 12,000.
The inflation was 9.33 percent during the week under review for the income group of between Rs 3000 to Rs 5000 and 8.16 for those having income between Rs 5000 to Rs 12,000.
There has been a steady increase in prices of fresh milk, wheat, pulses, fruit, rice, gur, red chillies and mustard oil. The bulletin on SPI, based on data collected for about 53 items from 17 centres, showed that 19 items registered increase, and seven items showed decline, while prices of 27 items remained unchanged.
Further analysis of the data showed that 22 items were dearer by double digits over last year. These included wheat flour 14.99 percent, masoor pulse washed 19.94 percent, gram pulse washed 11.16 percent, wheat 11.40 percent, rice Irri-38.87 percent, onions 20.12 percent, hen egg farm 52.51 percent, vegetable ghee loose 44.70 percent, milk powder 21.47 percent, vegetable ghee (tin) 27.34 percent, cooking oil (tin) 27.17 percent, and matchbox 21.54 percent.
Among these items, in a short span of one week, the prices of sugar increased by 4.21 percent per kg, masoor pulses 2.98 percent per kg, wheat flour 3.15 percent per kg, gram pulse washed 2.76 percent per kg, milk fresh 1.01 percent per kg, wheat 1.97 percent per kg, and bananas 2.085 percent.
The average price of cement in various cities remained around Rs 233.25 against Rs 292 of last year. Per bag cement price was recorded Rs 233 in Rawalpindi while Rs 237 in Islamabad, Rs 205 in Lahore, Rs 245 in Karachi, Rs 245 in Hyderabad, Rs 221 in Peshawar and Rs 270 in Quetta.