ISLAMABAD, Sept 14: The decline in prices of petrol, chicken and sugar supported the weekly inflation to inch down, however the major beneficiary of the declining SPI has been the high income group.
A decrease in price of Compressed Natural Gas (CNG) also helped ease inflation as it is the main fuel for transporters of small vehicles.
According to PBS data released on Friday, Sensitive Price Index (SPI) declined 0.42 per cent during the week ending on September 13, for the combined income group, while the decline was 0.54 per cent compared to the previous week for the high end income group earning more than Rs35,000 per month.
The decline in the weekly inflation has been more as the income ladder increases, and for the income group earning between Rs18,001 and Rs35,000 per month the weekly inflation declined 0.41 per cent, during the week.For the income group earning Rs12,001 to Rs18,000 per month, SPI declined 0.33 per cent, whereas the lower middle class earning between Rs8,001 and Rs12,000 per month the weekly inflation inched down 0.28 per cent.
However, the lowest income group’s, earning up to Rs8,000 per month, SPI nominally declined 0.24 per cent against the previous week. The week witnessed price increase of 14 items including diesel, wheat flour, farm chicken eggs, onions, LPG, loose salt powder, kerosene oil, shirting per meter, tin packed vegetable ghee, broken basmati rice, beef, mustard oil, garlic and firewood. However, the prices of 14 items registered a decrease in prices, including petrol, tomatoes, live farm chicken, bananas, sugar, washed moong pulse, potatoes, red chillies powder loose, washed masoor pulse, loose vegetable ghee, washed mash pulse, gur, wheat and washed gram pulse.
While the prices of 25 items remained unchanged among them notable were rice irri-6, mutton, fresh milk, curd, milk powder, packed cooking oil, tea packed, cigarettes, electric charges, gas charges, energy savor 14 watts, washing soap, match box, local telephone call rates, and bath soap.