ISLAMABAD, Jan 10: Sensitive Price Indicator (SPI) moved up by 0.5 per cent during the week ending Jan 8, 2004, as compared to previous week, hitting the lowest income households the hardest.
According to the weekly report of Federal Bureau of Statistics issued here on Saturday, the households with monthly incomes up to Rs3000 incurred an increase of 0.22pc in contrast to the highest income group with incomes above Rs12000 for which it rose only by 0.03pc.
As regards the middle tier households, SPI went up by 0.10pc for those in the income bracket Rs3001-5000 and those with incomes between Rs5001 and Rs12000 incurred an increase of 0.13pc.
At the end of the period under review, SPI index stood at 115.27, up 7.48pc from the corresponding period of previous year.
A glance at the list of 17 out of 53 essential items constituting the SPI basket provides the reason for the lower income households being particular targets of price spiral. Those items that are consumed by these people became dearer again.
On top in the list are the onions. Based on data collected from 17 cities, their average price shot up by 13.82pc (Rs2.36 per kg) to Rs19.44 per kg. Another major essential item, which is consumed by all classes of people is fresh milk, which became dearer in Rawalpindi/ Islamabad by Rs2 per litre.
Prices increased in respect of remaining 15 items as follows:
Bananas (2.89pc), LPG (11 KG Cylinder) (1.99pc), tea (prepared) (1.29pc), firewood (1.23pc), mutton (0.89pc), garlic (0.79pc), cooked beef (plate) (0.58pc), beef (0.46pc), curd (0.26pc), mustard oil (0.23pc), masoor pulse washed (0.17pc), coarse latha (10pc), wheat & mash pulse washed (0.09pc each) and moong pulse washed (0.07pc).
The period under review also saw decrease in prices of 11 items as follows:
Chicken farm (-3.73pc), potatoes (-3.46pc), electricity charges 1-100 (-2.71pc), egg (farm) (-2.24pc), tomatoes (-1.83pc), gur (-0.90pc), rice basmati broken (-0.73pc), sugar (-0.70pc), rice irri-6 (-0.40pc), wheat flour average quality (-0.08pc) and vegetable ghee (loose) (-0.07pc).
CEMENT: A significant feature of the situation is the increase in the maximum price of cement: For a long time, it had remained stuck at Rs230 per 50 kg bag, particularly, in Rawalpindi/Islamabad.
It has now gone up to Rs232 in the twin cities, raising the average price by 0.27pc over the previous week and by 10.54pc over the corresponding period of previous year.
It was available at Rs210 in Hyderabad in Lahore Rs230, Peshawar Rs227, Multan and Quetta Rs225 and Karachi Rs 217.
Consequently, the average price of cement rose by Rs0.61pc to Rs224.92 per bag as against Rs203.48 during the corresponding period of 2003.
The FBS statement also shows decrease in the cost of electricity: -1.16pc for domestic sector and -0.97pc for commercial A-1.
FERTILIZERS: The prices of four chemical fertilizers increased and those of equal number decreased, while there was no change in the cost of two others. The price decline is reported in respect of following fertilizers, as compared to previous week:
Nitro Phosphate (-0.11pc), S.SP. Phosphate (GR) (-1.14pc), T.SP. Phosphate (PD) (-0.23pc) and T.SP. Phosphate (-0.37pc).
Following fertilizers became dearer: Urea Sona (0.29pc), Urea Kisan (0.22pc), Ammonium Sulphate (0.52pc) and Dia Ammon. Phosphate (DAP) (0.19pc).