The weekly Sensitive Price Indicator for the week ending July 29 points to certain disturbing features.
First, sugar prices, which remained stable during the year, jumped up by 4.63 percent during one week.
Secondly, inflation target of five percent for the current year announced in the budget 2004-05 has already been crossed for the lower income groups earning up to Rs 5,000. This fact emerges from the CPI data given in the weekly review issued by the Federal Bureau of Statistics on Saturday.
Thirdly, as compared to prices in July last year, some essential items continue to be substantially costlier. As such, onion price has risen by 101 percent , potatoes by 47 percent, beef by 31 percent, wheat by 28 percent; Irri rice by 19 percent, and mutton by 31 percent.
An increase of over 12 percent in LPG prices, 24 percent in kerosene and 15 percent increase in firewood during one year constitute further strain to the housewives.
According to the weekly review the Sensitive Price Indicator (SPI) has registered an increase of 0.27 percent but the year-on-year rise is 12.65 percent.
The weekly SPI figures cover 53 items of daily use, mostly kitchen items. Rates are collected from 17 urban centres in the country.
During the week ending on July 29, prices of 20 items have shown rise, 6 items registered decrease and 20 items remained unchanged.
During the week under review the price of sugar increased by 4.63; tomatoes by 3.84 percent; chicken by 2.23 percent; grams by 1.29 percent in the context of the previous week.
DURING THE WEEK UNDER REVIEW, THE SPI FOR DIFFERENT CATEGORIES OF INCOME GROUPS IS AS FOLLOWS: The SPI increase during one year for the lowest income group earning up to Rs 3,000 is 14.05 percent and for those earning from Rs 3001 to Rs 5000, it is 13.28 percent; 12.84 percent for the income group from Rs 5001 to Rs 12000; 12 percent for the income category above Rs 12000 and average for all income group is 12.65 percent.
The current rise in Consumer Price Index (CPI) has affected low income group up to Rs 3000 which experienced a rise of 5.35 percent a in one year and 4.28 percent for income group above Rs 12000 whereas 4.57 percent average CPI for all income group.
FERTILIZER PRICES: Fertilizer prices have also risen substantially over the last year and have registered increased as compared to the prices of previous week.
Corresponding prices for fertiliser in context of last year, for phosphate (GR) increased by 31.07 percent; nitro phosphate by 25.72 percent; phosphate by 24.84 percent; c ammonium nitrate by 19.99 percent ; s.sp phosphate by 18.84 percent; ammonium phosphate by 15.16 percent ; dia ammon phosphate by 12.45 percent ; sulphate of pot by 12.01 percent; urea sona by 10.76 and urea kissan by 10.10 percent.
The week under review, price of c ammonium nitrate increased by 2.30 in the context of previous week.