February SPI up 16.38 percent YoY

Sensitive Price Indicator (SPI) on year-on-year (YoY) basis went up by 16.38 percent from 112.43 points to 130.85 points, according to SPI data released by the Pakistan Bureau of Statistic (PBS). The PBS claimed that wheat flour price during the week went down from Rs916 per 20-kg bag to Rs908.88 per 20-kg bag, which translates to per kg price of Rs45.44, but in the market wheat flour is available at Rs53 per kg.

Moreover, after recent wheat flour crisis on the government directions the flour millers changed packing of wheat flour twice; first from 20-kg bag to 15-kg and than from 15-kg to 25-kg.

Prior to the revision of packaging, the price of 15-kg wheat flour bag jumped to Rs860 per bag from Rs730 per bag and than the millers again on government directions revised the packaging from 15-kg to 25-kg with ex mill price at Rs1,350 and retail market price at Rs1,400. The commodity price now has started moving downward as 25-kg wheat flour bag is available at Rs1,205, which retailers are selling at Rs1,240.

Moreover, the government sponsored wheat flour bag is still available at Rs805 per 20 kg but consumers are not purchasing it due to low quality.

The PBS also has claimed a reduction in sugar price from Rs80.90 per kg to Rs80.04 per kg, but in Islamabad/Rawalpindi wholesale market, sugar is available at Rs3,960 per 50 kg bag, which in retail is being sold at, at least Rs82 per kg.

According to the PBS on week-on-week (WoW) SPI during week ended February 13 against February 6 has witnessed a decline of 0.38 percent for combine income group from 131.35 points to 130.85 points.

The SPI for the lowest income group with monthly income up to Rs17,732 witnessed a reduction of 0.47 percent from 134.70 points to 134.07 points on WoW basis and on YoY basis it went up by 14.76 percent from 116.83 points to 134.07 points, the PBS added.

For the income group with monthly income of Rs17,732-22,888, weekly inflation registered a decline of 0.45 percent from 130.47 points to 129.88 points, while on annual basis it witnessed an increase of 15.51 percent from 112.44 points to 129.88 points.

For the monthly income group of Rs22,889-29,517, the SPI went down by 0.42 percent from 132.36 points to 131.81 points, however on annual basis it went up by 18.62 percent from 111.12 points to 131.81 points.

Weekly inflation for the income group with monthly income of Rs29,518-44,175 went down by 0.40 percent from 129.45 points to 128.93 points, while on annual basis the SPI for the above income group went up by 18.04 percent from 109.23 points to 128.93 points.

For the income group of Rs44,175 or above monthly income groups, weekly inflation registered a decline of 0.35 percent from 133.20 points to 132.74 points and on annual basis the SPI for the above income group went up by 15.74 percent from 114.69 points to 133.74 points.

According to the PBS during the week under review, prices of 13 commodities witnessed a decline: tomatoes from Rs54 per kg to Rs46 per kg, potatoes from 42.20 per kg to 39.11 per kg, eggs from Rs106 per dozen to Rs102.52 per dozen, chicken from Rs180.08 per kg to Rs172.55 per kg, liquefied petroleum gas cylinder of 11.67 kg from Rs1,635.04 per cylinder to Rs1,596.33 per cylinder, and gram pulse from Rs160.07 per kg to Rs157.12 per kg.

Similarly, masoor pulse price came down from Rs148.98 per kg to Rs145.97 per kg, sugar from Rs80.90 per kg to Rs80.04 per kg, moong from Rs236.80 to Rs235.56 per kg, mash pulse from Rs227.87 per kg to Rs227.19 per kg, gur from Rs121.30 to Rs121.09 per kg and firewood from Rs689.10 per 40 kg to Rs689.01 per kg.

The items, which recorded increase in their average prices included garlic (lehsun), vegetable ghee Dalda/Habib or other superior quality, vegetable ghee Dalda/Habib 2.5 kg tin, cooking oil Dalda or other similar brand (sn), onions, sugar refined, gur (average quality), pulse moong (washed), bananas (local), tea prepared ordinary, firewood whole, bread plain (small size), rice irri-6/9 (Sindh/Punjab), mustard oil (average quality), pulse masoor (washed), mutton (average quality).

The prices of commodities, which registered decrease included tomatoes, eggs potatoes, the LPG, wheat flour bag, chicken farm broiler, pulse gram, pulse mash (washed).

According to the PBS, prices of the following 22 items witnessed an increase: banana, vegetable ghee Dalda/Habib, chillies powder, garlic, cooking oil Dalda, mustard oil, long cloth, onions, georgette, plain bread, prepared tea cup, toilet soup, cooked daal, fresh milk, curd, beef, Irri-6 rice, mutton and basmati rice.

During the week, prices of the following 16 items remain unchanged: powdered milk, salt powder, Lipton Yellow Label tea, cigarettes, printed lawn, gents sandals, ladies sandals, electricity changes, energy saver, gas charges, Sufi washing soap, match box, super petrol, and high speed diesel.