ISLAMABAD, Oct 18: Sensitive Price Indicator (SPI), propelled by the hike in prices of wheat, wheat flour and petroleum, spiralled by 0.76 per cent during the week ending October 16, 2003 over the previous week.

According to the weekly review of SPI supplied by the Federal Bureau of Statistics (FBS), the pace of increase in prices of essentials has gained momentum especially over the past eight weeks, piling up an increase of 2.97 per cent. At the end of the week, the SPI stood at 112.32 with 2000-01 as the base year.

Consequently, the SPI recorded an increase of 3.64pc over the corresponding week of previous year. The first quarter of 2002-04 (July-September) saw an increase of 2.03pc in SPI over the previous quarter.

Analyzed from the point of view of economic groups, the SPI climbed the highest for the poorest households with incomes up to Rs3,000 per month during the week under review.

It increased by 0.90pc for households in the income bracket of Rs3001-5000, by 0.75pc for those in the income bracket of Rs5001-12000 and by 0.77 per cent for those with incomes above Rs12000.

After easing somewhat over the past couple of weeks, the prices of wheat and flour showed rising trend. The national average of the price of wheat rose by 4.58pc to Rs9.59 per kg and that of wheat flour by 4.89pc to Rs11.37 per kg in a single week. This level of increase in the prices of the staple food of Pakistanis has no precedent in recent history.

In fact, the prices recorded by FBS staff in 17 cities of Pakistan, ranged from Rs9 per kg (Rawalpindi) to Rs10.50 per kg (Karachi) in respect of wheat and from Rs10.35 per kg (Lahore) to Rs13 per kg (Karachi) in respect of wheat flour.

As compared to the same period of previous year, wheat and flour have become dearer by 10.36pc and 11.36pc, respectively.

Besides, the prices of 15 out of 53 items comprising the SPI basket underwent substantial increase as compared to previous week as follows:

Red chilies (powdered) (7.37pc), chicken farm (4.48pc), petrol (4.09pc), kerosene (3.92pc), egg (farm) (3.44pc), vegetable ghee (loose) (2.62pc), onions (1.94pc), LPG (11 kg cylinder) (1.53pc), mustard oil (1.53pc), firewood (1.51pc), bread plain medium size (0.99pc), diesel (0.47pc), shirting (0.27pc), coarse latha (0.22pc) and masoor pulse washed (0.17pc).

The prices of following 9 items decreased: Tomatoes (-22.24pc), bananas (-2.17pc), potatoes

(-2.11pc), moong pulse washed

(-0.90pc), mash pulse washed

(-0.63pc), gram pulse washed

(-0.36pc), rice basmati broken

(-0.31pc), rice irri-6 (-0.24pc) and garlic (-0.19pc).

While the FBS figures show a decrease of 0.05pc in the prices of cement, the situation pertaining to fertilizers was mixed. During the period under review, Urea Kisan registered a 0.22pc decline in its average price calculated as Rs404.64 per bag.

There was no change in prices of four fertilisers, while five others registered increases to varying degrees as follows:

Ammonium Sulphate (0.57pc), Dia Ammon. Phosphate (0.25pc), Nitro Phosphate (0.32pc), S. SP. Phosphate (GR) (1.02pc) and S.SP. Phosphate (PD) (5.66pc).

Nil change was recorded by FBS in the wages of mason carpenter, plumber, labourer and electrician.