ISLAMABAD - The frequent increase in POL prices has taken inflation to the higher sides as Sensitive Price Indicator (SPI) based inflation was recorded at 7.46 per cent during the week ended on Thursday against the same period of last year.

According to the latest figures released by Pakistan Bureau of Statistics (PBS) on Friday, the SPI based inflation has increased by 7.46 per cent for all income groups during the week ended on Thursday if compared with the same period of previous year. Economic experts are of the view that constant increase in POL prices has taken inflation to the higher side, as the government changes the petroleum products on weekly basis.

The weekly inflation has enhanced by 7.67 per cent for the lower income group (earning just Rs 8000 per month) followed by 9.79 per cent for the income group (earning Rs 8001 to Rs 12000 per month) during the period under review. According to the PBS data, SPI based inflation has increased by 9.51 per cent for the income group (earning Rs 12001 to Rs 18000 a month) followed by 6.35 per cent for the income group (earning Rs 18001 to Rs 35000 per month) during the week ended on Thursday against the same period last year.

The minimum effect of the inflation was recorded for the higher income group (earning more than Rs 35000 per month), as SPI inflation recorded at 4.96 per cent for the said class of the society during the period under review.

It is worth mentioning here that SPI monitors prices of 53 items based on the survey of 17 cities and 53 markets. According to the latest PBS figures, prices of nine items registered increase, 16 items recorded decrease and 28 items remained unchanged during the week that ended on Thursday.

The PBS data suggested that price of petrol has increased to Rs 109.65 per litre from Rs 107.80 and price of lawn enhanced to Rs 164 per meter from Rs 161.Price of per dozen eggs surged by Rs one to Rs 94. Meanwhile, prices f gur, rice basmati broken, red chillies, beef, wheat flour bag and wheat have recorded nominal increased during the period under review.

According to the PBS figures, price of per kg onions decreased to Rs 43 per kg from Rs 49 and price of per dozen bananas reduced to Rs 67 from Rs 72. Price of potatoes went down to Rs 30.71 from Rs 31.78 per kg and price of garlic down to Rs 115 per kg from Rs 117. Prices of sugar, kerosene oil, chicken (live), vegetable ghee (loose), tomatoes, gram pulse washed, mustard oil, diesel, LPG (11 kg cylinder), masoor pulse washed, mash pulse washed and moong pulse washed were decreased during the period under review.

However, prices of rice irri-6, fresh milk, mutton, powdered milk, salt and other commodities remained unchanged during the week ended on Thursday.