INP-WealthPk

Weekly inflation witnesses 15.85pc increase

May 20, 2022

By Irfan Ahmed ISLAMABAD, May 20 (INP-WealthPK): The sensitive price indicator-based inflation for the last week witnessed an increase of 15.85% for the combined consumption group compared to the corresponding week of the last year, reports WealthPK. According to the Pakistan Bureau of Statistics (PBS), on a Year-on-Year (YoY) basis, the commodities registering an increase in prices include food and non-food items. The price of onion showed an increase of 160.81%, tomato 122.92%, garlic 83.51%, cooking oil 59.78%, vegetable ghee 59.46%, mustard oil 58.27%, pulses 52.01%. The prices of non-food items also showed an increase. The price of washing soap witnessed an increase of 39.79%, petrol 37.42%, LPG 97.34% and the rate of diesel showed an increase of 29.63% per litre. On the other hand, a major decrease of 39.50% was observed in the price of powdered chilly. Pulse Moong registered a 5.81% decrease in its price, potato 20.71%, electricity tariff for Q1 14.56%, banana 14.24% and sugar 11.80%. According to the PBS, the combined index was at 172.63 points on May 12, 2022, compared to 171.78 points on May 5, 2022, while the index was recorded at 149.01 points on May 13, 2021. During the week, out of 51 items, the prices of 28 items (54.90%) increased, that of six items (11.77%) decreased and 17 items (33.33%) remained stable. Wheat flour was one of the key commodities that increased the weekly inflation, with its price increasing 41.78% on a Week-on-Week (WoW) basis. Meanwhile, compared to the previous week, the SPI for the combined consumption group witnessed an increase of 0.49%.  Food commodities that saw an increase in prices include chicken with 12.13%, potato 7.04%, egg 5.08%, pulse Masoor 4.79%, onion 4.74%, pulse Mash 02.05%, pulse gram 2.29%, mustard oil 1.97%, mutton 1.64%, match box 1.31), ordinary prepared tea 1.16%, pulse Moong 0.97%, toilet soap Lifebuoy 0.88, IRRI-6/9 rice 0.88%, energy saver Philips 0.75%, rice basmati broken 0.65%, cooked beef at average hotel 0.57%, beef with bone 0.56%, garlic 0.34%, raw sugar 0.23%, soap Sufi 0.33%, milk powder Nido 0.23% and price of curd was increased by 0.17%. The prices of 17 items including bread, milk, vegetable ghee, chilly, tea, cooked pulses at an average hotel, cloths, sandals, natural gas, fuel for vehicles and telephone call charges remained stable. The SPI for the lowest consumption group up to Rs17,732 observed an increase of 0.94% and went up to 182.03 points from 180.34 points last week. On a yearly basis, analysis of SPI change across different income segments showed that it increased across all quintiles ranging between 13.93% and 16.94%. WealthPK has learnt that the yearly inflation for the group with a monthly income from Rs29,518 to Rs44,175 (Q4) increased by 16.32% while the highest income group with a monthly income above Rs44,175 recorded an increase of 16.94%. Similarly, weekly inflation for the group with a monthly income from Rs22,889 to 29,517 (Q3) increased by 1.1%. Different commodities are available at a lower price at utility stores as the government-run Utility Stores Corporation offers subsidy to consumers on pulses, flour, sugar, rice and ghee under a relief package.