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Hike in food prices pushes weekly inflation up

Hike in food prices pushes weekly inflation up

ISLAMABAD: Inflation measured through the Sensitive Price Index (SPI) posted an increase of 0.55 per cent for the week ending on Dec 16 driven by a sharp hike in the prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

The data released show that SPI-based inflation rebounded after a decline of three consecutive weeks. Before it enters a negative trend, the SPI posted sixth consecutive increase. In November, the highest jump of 1.81pc in weekly inflation was recorded.

For the lowest income group earning below Rs17,732 per month, the SPI increased by 0.45pc and for the group earning above Rs44,175, it dipped by 0.30pc.

This was mainly due to an increase of pulse masoor 4.11pc, salt 3.70pc, pulse gram 2.08pc, bananas 1.69pc, mustard oil 1.35pc, pulse mash 1.32pc, electricity (for Q1) 10.37pc and washing soap 1.23pc.

The items whose prices declined during the week included potatoes 15.52pc, tomatoes 12.65pc, chicken 5.94pc, onions 3.94pc, diesel 3.48pc, petrol 3.40pc, eggs 1.69pc, gur 1.34pc, sugar 1.29pc, chilies powdered 0.57pc, beef 0.54pc, pulse moong 0.37pc, rice basmati broken 0.20pc, mutton 0.15pc and wheat flour 0.04pc.

During the week, out of 51 items, prices of 17 items increased 15 items decreased and 19 items remained constant.

Published in Dawn, December 18th, 2021

Source: Dawn News

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