ISLAMABAD - The Sensitive Price Indicator based inflation has recorded a nominal increase of 1.45 per cent during the first week of the New Year 2012, but when compared with same week last year it has surged by 6.08 per cent, Federal Bureau of Statistics reported on Friday.

According to the latest inflation figures released by FBS, the SPI has increased by 1.93 per cent for income group above Rs35,000 over the previous week, while for income bracket of Rs18,001-Rs35,000 the impact was 1.62 per cent.

Meanwhile, the SPI has increased by 0.96 and 1.09 per cent for the middle-income group Rs12,001-Rs18,000 and Rs8,001-Rs12,000 respectively. While it enhanced by one per cent for the income group up to Rs8,000. The weekly SPI with base year of 2007-2008 is calculated covering 17 urban centres and 53 essential items for all income groups.

The independent economists believed that inflation is likely to further increase in the coming weeks due to the government’s decision to enhance the gas and petrol prices from January 1. However, the State Bank of Pakistan projected that government would achieve the inflation rate of 12 per cent at the June 2012, which is 9.8 per cent in December 2011.

According to the figures, prices of 20 items increased in last week. Per kg price of onion increased to Rs 43.70 from Rs 34.29, price of per MMBTU of gas enhanced to Rs 142.62 from Rs 125.13, per 11 kg LPG cylinder price surged to Rs 1514 from Rs 1400, per dozen egg prices went up to Rs 114 from Rs 107, per kg prices of chicken soared to Rs 151 from Rs 148 and per liter petrol price increased to Rs 90.59 from Rs 88.96.

Similarly prices of rice Irri-6, mutton, kerosene, firewood, mustard oil, rice basmati broken, wheat and masoor pulse washed also increase during the period under review.

On the other hand, prices of 11 items showed decrease during the week ended on December 5 as compare to last week. Prices of potatoes, tomatoes, gur, sugar, moong pulse washed, mash pulse washed, garlic, gram pulse washed, red chilies powder and wheat flour bag were reduced in the period under review.

However, the prices of 22 items remained unchanged during the week under review.