Geo436.com blog: Inflation touches record 20.68pc in a week

Geo 436 ISLAMABAD: The inflation rate, during the last week which ended on October 14, was up record 20.68 percent, Geo News reported Monday evening.

According to the calculations of Federal Bureau of Statistics, the last week, ended on October 14, witnessed rise in inflation rate by 20.68 percent more than how it was observed during the same period last year.

The Sensitive Price Indicator (SPI) for the week ended on October 14 for the lowest income group up to Rs.3,000, has registered increase of 0.88 percent over the previous week.

The SPI for the week under review in the above mentioned group was recorded at 288.52 points as against 286.01 points registered in the previous week, according to provisional figures of Federal Bureau of Statistics (FBS).

The weekly SPI has been computed with base 2000-2001=100 covering 17 urban centers and 53 essential items for all income groups and combined.

SPI for the combined group registered positive growth of 0.72 per cent as it went up from 272.46 points in the previous week to 274.41 points in the week under review.

As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 20.68 percent.

As compared to the last week, the SPI for the income groups ranging from Rs.3001-5000, Rs.5001-12000 and above Rs.12000 increased by 0.84 percent, 0.77 percent and 0.59 percent respectively.

During the week under review average prices of 9 items registered decrease, while that of 23 items increase with the remaining 21 items' prices unchanged. The items which recorded decrease in their average prices during the week under review included tomatoes, bananas, chicken (farm), moong pulse (washed), potatoes, sugar, gram pulse (washed), mash pulse (washed) and LPG (11 kg cylinder).

The items which registered increase in their prices included, onions, red chillies, vegetable ghee (loose), mustard oil, vegetable ghee (tin), cooking oil (tin), milk (fresh), curd, gur, egg hen (farm), firewood, rice (irri-6) voil (printed), tea (prepared), washing soap, mutton, wheat flour (average quality), garlic, masoor pulse (washed), wheat (average quality), beef, rice basmati (broken) and kerosene.

The items with no change in their average prices during the week under review included bread plain (mid size), milk (powdered), salt (powdered), tea (packet), cooked beef, cooked dal, cigarettes, coarse latha, lawn, shirting, sandal (gents), sandal (ladies), chappal, electricity bulb (60wats), match box, bath soap, gas charges (up to 3.3719 MMBTU), electricity charges (1-100 unit), petrol, diesel and telephone local call.