SPI-based inflation up 0.49pc WoW

Business Recorder reported that SPI-based inflation climbed 0.49 percent week on week in the seven days to August 20. Figures published by the Pakistan Bureau of Statistics on Friday showed onions leading the rise with a 14.17 percent increase, while petrol gained 3.77 percent, chicken 3.35 percent and garlic 2 percent.

Milk, tea, pulses and cigarettes also became dearer, with fresh milk up 0.17 percent and cigarettes 0.06 percent. Eggs fell 5.78 percent, diesel dropped 5.15 percent and tomatoes slid 4.99 percent, while LPG and sugar declined by 1.04 percent and 0.24 percent respectively. Of the 51 items tracked, 23 rose in price and make up 45.10 percent of the basket, while 10 fell, accounting for 19.61 percent.

On a year-on-year basis, the SPI rose 9.66 percent, led by onions at 132.52 percent, tomatoes at 93.21 percent and wheat flour at 62.25 percent. Across income groups, the weekly increase ranged from 0.38 percent for households earning up to Rs17,732 a month to 0.55 percent for those earning Rs44,175 and above.