After making new records, the Sensitive Price Indicator (SPI) for the current week ended on 22nd September 2022 recorded a decrease of 8.11%.
Since the country is facing massive flooding and resulting economic losses including food shortage, SPI based inflation mainly varies due to the change in prices of food items.
Sensitive Price Index (SPI) for the week ended 22-Sep-2022 recorded a decrease of 8.11% WoW and an increase of 29.28% YoY.
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Decrease is observed in the prices of food items, Tomatoes (8.15%), Bananas (1.90%), Garlic (1.31%), Pulse Masoor (0.99%), Cooking Oil 5 liter (0.78%), Onions (0.46%), Vegetable Ghee 2.5Kg (0.34%) and Vegetable Ghee 1Kg (0.06%), non-food items, Electricity for Q1 (64.23%) and LPG (3.82%).
Read more: SPI-based inflation witnesses a decline
On the other hand, increase observed in the prices of Wheat Flour (22.47%), Tea Lipton (6.42%), Chicken (4.52%), Pulse Gram (2.54%), Bread (2.36%), Cigarettes (1.82%), Rice Basmati Broken (1.51%), Potatoes (1.45%), Pulse Moong (1.31%) and Rice Irri 6/9 (1.07%).
During the week, out of 51 items, prices of 26 (50.98%) items increased, 10 (19.61%) items decreased, and 15 (29.41%) items remained stable.
The year on year trend depicts an increase of 29.28%, Tomatoes (117.55%), Diesel (105.12%), Petrol (91.87%), Pulse Masoor (75.38%), Pulse Gram (73.55%), Mustard Oil (65.64%), Cooking Oil 5 liter (63.63%), Washing Soap (61.50%), Vegetable Ghee 2.5 Kg (59.42%), Pulse Mash (56.93%), Vegetable Ghee 1 Kg (56.09%), Onions (50.83%) and LPG (49.89%), while decrease observed in the prices of Electricity for Q1 (45.61%), Chilies Powder (43.05%), Sugar (19.20%) and Gur (3.37%).
(SPI) is computed on weekly basis to assess the price movement of essential commodities at shorter interval of time to review the price situation in the country. SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country.
The weekly SPI with base 2015-16=100 covering 17 urban centers and 51 essential items for all expenditure groups/quintiles and combined has been computed.
The Food and Agriculture Organization (FAO) has reported that over 1.2 million hectares of agricultural land in Sindh has been damaged, which will have catastrophic impacts on livelihoods and food production in the region.