SPI fell by 0.51% mainly due to lower prices of potatoes, petrol, diesel, tomatoes and sugar, PBS data shows<\/p>\n
KARACHI: The weekly inflation eased slightly in the week ending December 21, but remained above 40% for the sixth consecutive week, as consumers faced soaring prices of eggs, firewood and pulses, official data showed on Friday.<\/p>\n
The Sensitive Price Indicator (SPI) fell by 0.51% from the previous week, mainly due to lower prices of potatoes, petrol, diesel, tomatoes and sugar, the Pakistan Bureau of Statistics (PBS) data showed.<\/p>\n
However, the SPI inflation rate was still a staggering 43.16%, compared to the same week last year, when it was 42.68%. The high inflation has eroded the purchasing power of consumers, especially those in the lower and middle-income groups.<\/p>\n
The SPI inflation fell due to a notable reduction in the prices of potatoes 13.17%, petrol 4.97%, diesel 4.68%, tomatoes 3.45%, sugar 1.16%, and other essential items.<\/p>\n
On the contrary, significant increases were observed in the prices of eggs 10.4%, firewood whole 1.23%, onions 1.19%, and various pulses.<\/p>\n
Out of the 51 essential items included in the SPI, prices of 18 items (35.29%) increased, nine items (17.65%) decreased, and 24 items (47.06%) remained stable during the week.<\/p>\n
Individuals in the lowest income bracket, earning up to Rs17,732 per month, faced a substantial SPI inflation rate of 35.13%. In contrast, for those in the higher income group spending more than Rs44,175 per month, the SPI inflation was even higher, reaching 40.93%. The middle quintile, ranging from Rs22,889 to Rs29,517, experienced a weekly inflation rate of 46.46%.<\/p>\n
Various consumer goods witnessed a mix of increases, decreases, and stability, according to the latest data released by the PBS.<\/p>\n
The price of a dozen eggs rose by 10.42%, reaching Rs388.7, compared to the previous week. A slight increase of 1.23% was observed in the price of a 40kg bundle of firewood, totaling Rs1146.<\/p>\n