There has been marked rise in Sensitive Price Index (SPI), Consumer Price Index (CPI) and Weighted Price Index (WPI) in July 2004 as compared to the same period last year.
According to monthly review of price indices issued by the Federal Bureau of Statistics, SPI change in July 2004 over July 2003 is 13.84 percent; CPI 9.33 percent and WPI 10.19 percent.
The review noted that in July 2003, the increase over July 2002 was 2.03 percent; CPI only 1.41 percent and WPI 4.20 percent.
Thus, increase during July 2003 on July 2004 has been the highest for the past several years.
The review also shows that during the month of July 2004, the SPI rose sharply by 2.43 percent over June 2004. The jump in CPI in one month was 1.41 percent.
The CPI by groups showed that CPI rose by 9.33 percent in July over the corresponding month of last year.
Food and beverages, which constitute over 40 per weightage, rose by 14.93 percent, followed by increase in house rent by 9.05 percent. The weight of house rent is 23.43 percent.
Fuel and lighting with a group weight of 7.29 percent in CPI rose by 2.7 percent and transportation and communication group with weightage of 7.32 percent rose by 7.49 percent The rise in household furniture and equipment with weightage of 3.29 showed a rise of 5.45 percent.
In the WPI, food with a weightage of 42.12 percent showed an increase of 12.70 percent fuel and lighting weightage of 19.29 percent rose by 9.93 percent and manufactures weightage of 25.87 rose by 8.69 percent in July 2004 as compared to July 2003.
The more worrisome rise during one year is of 14.37 percent in the case of building materials whose weightage in the WPI index is 4.73 percent.