Weekly inflation up 2.41pc

Published February 27, 2021
Weekly inflation for the combined group in the period ended on Feb 25 increased by 2.41 per cent on the back of an uptick in prices of essential food items. — Dawn/File
Weekly inflation for the combined group in the period ended on Feb 25 increased by 2.41 per cent on the back of an uptick in prices of essential food items. — Dawn/File

ISLAMABAD: Weekly inflation for the combined group in the period ended on Feb 25 increased by 2.41 per cent on the back of an uptick in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

The week-on-week change is the highest in the current month. Since January, an upward movement was noted in the prices of essential kitchen items despite the government’s claims that prices of consumer items prices were declining.

The PBS calculates the Sensitive Price Index (SPI) based on the prices of 51 essential items from 50 markets across 17 cities of the country.

For the lowest income group earning below Rs17,732 per month, the SPI increased by 6.65pc, while for those who are earning above Rs44,175, it recorded an increase of 1.47pc.

This was mainly due to rising prices of food items including bananas (4.25pc), pulse gram (2.43pc), chicken (2.14pc), potatoes (1.39pc), mustard oil (1.39pc), ghee 2.5kg (1.14pc) and tea prepared (1.08pc).

Electricity charges see 65pc increase

Among non-food items, prices of electricity and long cloth saw an increase of 64.59pc and 2.96pc, respectively.

The items whose prices declined during the week included tomatoes (6.04pc), onions (2.42pc), LPG (2.03pc), gur (0.15pc) and firewood (0.01pc).

During the week, out of 51 items, prices of 25 items increased, for five items a decrease was recorded while rates for 21 items remained constant.

Contrary to this trend, the month of January saw a deeper deceleration in the prices of consumer products as inflation eased to 5.7pc from 8pc in Dec 2020. On a month-on-month basis, inflation decreased by 0.21pc mainly due to a drop in prices of tomatoes, potatoes, onions and a few other vegetables following the arrival of domestic crop in the market.

The National Price Monitoring Committee in its last meeting also directed the Ministry of Industries and Production to look into rising prices of ghee and cooking oil.

Published in Dawn, February 27th, 2021

Opinion

For whom the clock ticks
Updated 22 Apr 2021

For whom the clock ticks

Tarin will have to succeed in order to cement his position within the cabinet.
Ending the ‘forever war’
Updated 21 Apr 2021

Ending the ‘forever war’

Regardless of who the adversary was at any point, two generations of Afghans have known only war.

Editorial

22 Apr 2021

Capping power debt

THE suggested revision in the Circular Debt Management Plan, which aims to cap the flow or addition of new debt to...
22 Apr 2021

Istanbul postponement

WHILE the postponement of the Istanbul peace talks on Afghanistan, which were scheduled to be held later this week,...
22 Apr 2021

No mining precautions

YET another accident caused by a methane gas explosion has been reported from the dangerous coal mines of...
More mishandling
Updated 21 Apr 2021

More mishandling

By its bad decision-making and weak management, the govt has allowed the TLP to garner more importance and heft than it deserves.
21 Apr 2021

Declining FDI

THE sharp decline in FDI in recent months is worrisome. New State Bank data shows that FDI has plummeted by a hefty...
21 Apr 2021

The digital divide

IN the Economist Intelligence Unit’s annual Inclusive Internet Index report, measuring internet inclusion in terms...