How the poor are being crushed by inflation and price rises. Another feather in the cap of the incompetent dictator.
SPI-based inflation up 12.33 percent
ISLAMABAD (January 27 2008): The weekly inflation, measured through Sensitive Price Indicator, surged by 12.33 percent on week ending January 24 against the same period last year, said Federal Bureau of Statistic (FBS). The SPI released by the FBS on Saturday showed that the increase in the prices of 20 essential commodities was major reason of surge in SPI.
According to the FBS, weekly inflation based on SPI was 14.92 and 14.60 percent, respectively, for Rs 3,000 and Rs 3,000-Rs 5,000 income groups. The volatility in prices of essential commodities coupled with the shortage of one after another commodity has been making harder the life of salaried class and low income group.
As inflation based on SPI was 13.42 percent for households in the income bracket Rs 5,001 to 12,000 and 10.44 percent for above Rs 12 000 on January 24, though on weekly basis the SPI declined by 2.04 percent. The combined SPI after 2.04 percent decline was recorded 165.80 percent on January 24 from 169.26 percent on January 17.
The SPI bulletin, based on data of 53 items collected from 17 urban centers showed that prices of 20 essential commodities increased, 13 declined whereas prices of 20 commodities remained stable.
As compared to last week, the prices of 20 commodities, including vegetable, cooking oil, milk, fruits, and gas witnessed the increase. As the increase of 14.03 percent was noted in the price of tomatoes, 6.57 percent in gas up to 3.3719 mmbtu, 2.88 percent in mustard oil, 2.87 percent increase in the price of 2.5 liter cooking oil tin, 2.58 percent surge in the cost of 2.5 liter vegetable ghee, 2.37 percent in washing soap nylon, 2.15 percent in masoor pulse washed, 1.48 percent in vegetable ghee loose per kg, 1.30 percent in tea (prepared) and 1.20 percent in rice Irri.
Similarly, the price of rice basmati broken increased by 0.75 percent, moong pulse washed 0.93 percent bananas 0.69 percent, gram pulse washed 0.61 percent and milk fresh 0.20 percent per liter.
**Shockingly, the prices of 28 commodities have gone up by double digits over the same period last year. These included tomatoes, mustard oil, cooking oil, vegetable ghee, masoor pulse (washed), vegetable ghee (loose), tea (prepared), rice Irri, rice basmati (broken), cooked dal (plate), milk, red chillies, wheat flour, LPG, wheat average quality, chicken, firewood, bread plain (mid-size), milk powdered, etc.
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