The SPI-based inflation surged by 8.01 percent on week ending December 6, 2007 over the same period last year with prices of essential commodities going up by 10.29 percent for the low-income group.
The data released by the Federal Bureau of Statistic (FBS) showed a persistent increase in the prices of wheat and flour with an upsurge of 33.88 and 29.45 percent, respectively, over the same period last year.
An increase of 1.63 and 1.29 percent was recorded, respectively, in the prices of wheat and flour over last week. On November 29, the price of per kg wheat surged to Rs 15.94 after 3.98 percent over the previous week. At present, the price of per kg wheat has surged to Rs 16.20 after registering an increase of 1.63 percent over the last week.
The spike in the prices of essential commodities was making life difficult for the downtrodden. The prices were up by 10.29 percent for the low-income group of Rs 3,000 against the same period last year, 10.06 percent between Rs 3,000 and Rs 5,000 income group, 9.03 percent for the group earning between Rs 5,000 and Rs 1,2000, and 6.14 percent for above Rs 1,2000.
On weekly basis, an increase of 0.25 percent was recorded in the prices of essential commodities for Rs 3,000 income group, 0.21 percent between Rs 3,000 and Rs 5,000, 0.17 percent between Rs 5,000 and Rs 12,000 and 0.10 percent for Rs 12,000. Overall an increase of 0.11 percent, in the prices of essential commodities, was recorded over the last week. Inflation calculated on the prices of 53 essential commodities in 17 urban centers showed that the price-hike was hitting hard the poor and downtrodden.
The FBS data showed an increase in the prices of 16 essential commodities over previous week and the same period of last year whereas prices of 13 items declined. Though the prices of 24 items remained stable butt were on high side over the same period last year.
On weekly basis, the prices of per kg wheat increased to Rs 16.20 after a 1.63 percent surge over the last week, wheat flour to Rs 17.58 per kg after 1.27 percent increase, eggs to Rs 55. 52 a dozen after 3.60 percent increase, liquefied petroleum gas to Rs 723.65 per 11-kg cylinder after an increase of 3.49 percent, the price of per kg onion increased to Rs 17.89 after an increase of 1.53 percent over the last week.
The combined SPI surged by 164.26 percent on December 6, up by 0.11 percent over last week 164.08 percent. Further analysis of the data showed that the prices of over 20 items surged by double digits against the same period last year.