ISLAMABAD, Jan 6: Sensitive Price Indicator soared by 0.33 per cent during the week ending January 2 over the previous week, according to the weekly price data of Federal Bureau of Statistics.

During the past four weeks SPI had been declining consistently in response to the reduction in prices of petroleum fuels. During the week under review, POL prices were revised upward again, raising the rate of diesel oil by 4.57 per cent.

Analysed from the point of view of various income strata, the lowest increase in SPI (0.7%) recorded by FBS was in respect of the households in income bracket Rs3,001-5,000. It rose by 0.08 per cent for households with incomes up to Rs3,000 per month.

For households earning incomes between Rs5,001 and Rs12,000, SPI went up by 0.13 per cent. The SPI rose by 0.54 per cent for households with incomes above Rs12,000.

According to FBS data, based on prices of 51 essential prices prevailing in 17 towns of Pakistan, the combined SPI stood at 106.90. It was 106.32 for the households in lowest income group.

On top of the 11 essential items the prices of which slid during the period under review as compared to previous week was Electric bulb (60 watts). Its price dropped by 10.50 per cent to Rs12.53 each. The prices of remaining 10 items decreased as follows:

Tomatoes (10.23%), potatoes (3.10%), onions (1.41%), gram pulse washed (0.77%), sugar (-0.75%), gur (0.60%), mash pulse washed (0.43%), red chilies powdered (0.19%), moong pulse washed and garlic (0.03%).

Besides diesel, the hike in prices of kerosene and petrol was a major factor in the surge of prices during the period under review, according to FBS officials. Their rates were increased by 6.45 and 4.75 per cent, respectively, as compared to previous week. The prices of following 10 items also spiralled:

Chicken farm (6.28%), firewood (1.43%), mutton (0.74%), cooked dal plate (0.69%), masoor pulse washed and farm egg (0.51% each), mustard oil (0.47%), wheat (0.34%), rice basmati broken (0.33%) and wheat flour average quality (0.29%).

A significant aspect of the price situation is the continued downward trend of cement prices in different part of the country. In Hyderabad, the price of cement had plunged to Rs180 per bag - the lowest in three years or so. The only places where these remained above the Rs200 mark were: Rawalpindi (Rs212.50), Islamabad (Rs215.00), Karachi (Rs227) and Quetta (Rs230).

On average, the price of cement registered a decline of 0.94 per cent, as compared to previous week.

Presumably expecting a surge in off-take of fertilizer following the recent rainy spell, the prices of most of the chemical fertilizers were raised to a significant extent during the period under review. This is intriguing particularly when there is a glut of urea fertiliser in Pakistan. These should have gone down.