Owing to a sharp increase in electricity prices, the sensitive pricing index (SPI), which measures weekly inflation, increased by more than 4 per cent.
According to data released on Friday by the Pakistan Bureau of Statistics (PBS), the SPI-based inflation rate increased 4.13 per cent from the previous week to the week ending October 27 while increasing 30.68 per cent from the same time last year.
The cost of power, salt, rice, and other basic commodities went up on average during the previous week.
According to Geo, there has been a decrease in the cost of 16 goods, including chicken, tomatoes, onions, and masoor pulses. In the meantime, the prices for 14 necessities remained the same.
Electricity costs up by 89 per cent
An increase from week to week is mostly caused by an 89 per cent increase in electricity costs.
Recall that a negative Rs10 per unit adjustment to fuel prices was implemented in September. The government opted to postpone the Rs. 10 per unit adjustment for the June fuel price, but it had already been accounted for in the inflation figures for August, therefore it was corrected for in the September inflation figures.
Inflation is expected to be 25.7 per cent in October, up from 23.2 per cent in September, according to the brokerage.
In the week under examination, the combined income group index increased from 205.27 points for the week that concluded on October 20 to 213.74 points.
In comparison to the prior week, the SPI for the income bracket with the lowest income rose by 4.64 per cent. The group’s index was 220.56 points, up from 210.78 points the previous week.
Increase in prices
Prices of the following items increased:
Salt powdered: 2.57 per cent
Tea Lipton: 1.89 per cent
Rice: 1.24 per cent
Garlic: 1.04 per cent
Electricity charges for Q1: 89.34 per cent
Energy saver: 1.57 per cent
Reduction in prices
Prices of the following items decreased:
Tomatoes: -3.77 per cent
Onions: -2.97 per cent
Pulse Masoor: -2.50 per cent
Chicken: -1.86 per cent
Pulse Gram: -1.35 per cent
Gur: -1.09 per cent
LPG: -0.72 per cent