Following a significant spike in the previous several weeks, inflation based on the Sensitive Price Index (SPI) has finally registered a slight fall of 0.58 percent during the week ended September 8 compared to the previous week.
The SPI for the current week, which ended on September 8, 2022, decreased by 0.58 percent. The decrease is attributed to the fall in prices of food items.
Read more: Weekly inflation making new records!
During the week, out of 51 items, prices of 26 (50.98 percent) items increased, 09 (17.65 percent) items decreased and 16 (31.37 percent) items remained stable.
An increase was observed in the prices of LPG (10.66 percent), wheat flour (4.15 percent), eggs (3.96 percent), bread (3.27 percent), pulse moong (2.74 percent), curd (2.72 percent), tea Lipton (2.50 percent), pulse gram (1.65 percent), chicken (1.58 percent), milk fresh (1.57 percent), fire wood (1.54 percent) and potatoes (1.02 percent).
The SPI for the current week ended on 08th September, 2022 recorded a decrease of 0.58 percent. Decrease was observed in the prices of food items, onions (41.99 percent), tomatoes (8.11 percent), bananas (2.51 percent), pulse masoor (1.37 percent), vegetable ghee 1kg (0.55 percent), cooking oil 5 liter (0.33 percent), mustard oil (0.16 percent) and vegetable ghee 2.5 kg & sugar (0.11 percent) each.
According to the PBS data, the Sensitive Price Indicator for the lowest consumption group up to Rs17,732 witnessed 1.52 percent decrease and went up to 225.67 points this week from 229.15 points in last week. Meanwhile, the SPI for the consumption groups from Rs17,732-22,888; Rs22,889-29,517; Rs29,518-44,175 and above Rs 44,175 also decreased by 1.28 percent, 0.97 percent, 0.77 percent and 0.25 percent respectively.
The year on year trend depicts an increase of 42.70 percent, tomatoes (144.25 percent), diesel (114.08 percent), petro (98.73 percent), pulse masoor (76.3 percent), cooking oil 5 litre (67.99 percent), mustard oil (66.53 percent), LPG (64.98 percent), washing soap (64.50 percent), electricity (63.03 percent), vegetable ghee 2.5 kg (62.53 percent), pulse gram (61.02 percent), onions (59.97 percent) and vegetable ghee 1 kg (58.19 percent), while a decrease observed in the prices of chilies powder (43.42 percent), sugar (18 percent) and gur (2.08 percent).
The SPI was 221.55 points in the week ended September 8, compared to 222.85 points in the week ended September 1. Weekly inflation has risen to 42.7 percent on an annual basis. Due to the ongoing rise in oil prices and flood damage, SPI-based inflation had reached an all-time high of 45.5 percent in the previous week.