KARACHI: Sensitive price indicator (SPI) shed 0.61 percent week-on-week for the combined income group during the seven-day period ended June 3, 2021, while rising 16.12 percent year-on-year.
Inflation report released by the Pakistan Bureau of Statistics (PBS) said the decrease was mainly due to drop in food prices, particularly chicken, bananas, pulse moong, wheat flour, rice irri-6/9, pulse gram, and pulse mash. The joint impact of the price drop was negative 1.24 percent.
The price of 1kg live chicken dropped to Rs231.69 from Rs278.32 during the previous week ended May 27, 2021.
Consumers from different cities of Pakistan however said that the price of live chicken was between Rs300 to Rs400 in various markets during the week under review.
The group spending up to Rs17,732 benefitted the least from the drop, as average inflation for the quintile was down only 0.47 percent WoW, with YoY inflation up 18.62.
The YoY trend was affected by increase in prices of chilli powder (108.20 percent), electricity for Q1 (61.62 percent), petrol (45.39 percent, diesel (37.83 percent), eggs (37.49 percent), mustard oil (34.74 percent), gents sandal (33.37 percent), matchbox (31.64 percent), LPG (26.38 percent), gents flip-flops (25.13 percent), vegetable ghee (22.59 percent), soap (21.42 percent), and sugar (21.38 percent).
The government computes SPI on weekly basis to assess the price movements of essential commodities at shorter intervals to review the price situation in the country. It comprises of 51 essential items and the prices are collected from 50 markets in 17 cities of the country.
Inflation for the second quintile went down 0.65 percent from 149.90 points to 148.92 points during the week ended May 27, 2021. For this consumption group, YoY inflation was up 15.58 percent.
The group spending Rs22,889-29,517 saw WoW decrease of 0.66 percent and YoY spike of 14.97 percent in inflation.