FBS shakes up SPI touchstones

ISLAMABAD: The Federal Bureau of Statistics (FBS) has changed the base period for monitoring of the Sensitive Price Indicator (SPI) besides making several other modifications in the index keeping in view the overall changes in incomes since 2000-2001-the earlier based period.

Till the week ended on September 15, the SPI was being computed on base period 2000-2001 which has been replaced with base 2007-2008=100, covering 17 urban centers and 53 essential items for all income groups and combined.

Similarly, the range of lowest income group has been increased from Rs.3,000 to Rs.8,000 besides making changes in the ranges of other income groups monitored for SPI.

Earlier, SPI was being computed on income groups ranging from Rs.3001-5000, Rs.5001-12000 and Rs.12000. But as per the new scale, the range of income groups has been increased and set as from Rs.8001-12,000, 12,001-18,000, 18001-35,000 and above Rs.35,000.

According to new scale three items including coarse latha, voil(printed) and electricity bulb have been removed from the list where as three things including energy saver, long cloth and georgette have been included in it.

Similarly, changes have been made in two items as wheat flour (average quality) has been replaced by wheat flour (bag) and gas charges (up to 3.3719 MMBTU) replaced with gas charges (upto 100 m3). (APP)