Weekly inflation inches up

weekly-inflation-inches-up

Weekly inflation inches up ISLAMABAD: Weekly infl­ation for the combined income group witnessed an increase of 0.11 per cent for the seven-day period ending on November 17 owing to a rise in the price of essential food commodities.

Weekly inflation measured through the Sensitive Price Index (SPI) witnessed the upward trend for the second consecutive week after a decline in preceding weeks, according to data issued by the Pakistan Bureau of Statistics (PBS) on Friday.

SPI monitors prices of 53 items through a survey conducted in 17 cities and 53 markets.

Prices of 10 items increased while those of 11 items declined during the period under review. Prices of 32 items remained unchanged during the week.

The impact of price changes on various income groups was different. For the lowest income group earning up to Rs8,000, the SPI witnessed an increase of 0.11pc over the preceding week. Inflation for the top income group – Rs35,000 and above – was up 0.12pc.

Compared to the corresponding week a year ago, the SPI for the combined group witnessed an increase of 0.51pc. Food items that registered an increase in their prices include eggs (7pc), tomatoes (1.96pc), sugar (1.23pc), vegetable ghee (0.51pc), wheat (0.47pc), wheat flour (0.13pc) and rice Irri-6 (0.08pc).

As for non-food items, prices of 11-kilogram cylinders and firewood whole rose 3.97pc and 0.32pc, respectively, during the week under review.

Source: http://www.dawn.com/news/1297199/weekly-inflation-inches-up

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