KARACHI: A sharp rise in energy and food prices pushed Pakistan’s weekly inflation to 1.30 percent and annual inflation to 29.83 percent in the period ended August 3, JEE News reported on Saturday, citing official data.
According to Pakistan Bureau of Statistics (PBS), the increase in sensitive price index (SPI) is due to increase in prices of tomato (16.85%), LPG (9.82%), petrol (7.86%) and diesel. 7.82%, chilli powder (7.58%), garlic (5.71%), onion (5.50%), powdered milk (5.17%), egg (3.86%) and broken basmati rice (2.06%).
On the other hand, the prices of mustard oil (1.63%), chicken (1.40%), vegetable ghee 1kg (0.51%), vegetable ghee 2.5kg (0.36%), pulses and chickpeas (0.22%) were significantly reduced. Wheat Flour (0.20%) and Moong Dal (0.03%).
For the week under review, the SPI was recorded at 271.56 points as against 268.08 points registered last week and 209.17 points during the week ended August 8, 2022.
PBS compiled the SPI by collecting prices of 51 essential commodities from 50 markets in 17 cities across the country. Out of 51 commodities, 23 (45.10%) commodities increased in price, 7 (13.72%) commodities decreased and 21 (41.18%) commodities remained unchanged during the week.
Different weights are assigned to different items in the SPI basket. For the lowest quintile, commodities with the highest weight are milk (17.5449%), electricity (8.3627%), wheat flour (6.1372%), sugar (5.1148%), wood (5.0183%), long cloth (4.2221%). ) and include vegetables. Ghee (3.2833%).
Among these commodities, the prices of milk, sugar and wood increased. Prices of wheat flour and vegetable ghee fell, while long cloth and electricity prices remained unchanged.
Sakina, a domestic worker from North Nazimabad, said that she does not know how to meet her children’s food needs, especially meat.
“At my local shop, chicken is Rs 600 per kg, beef is over Rs 1,100 and mutton – I didn’t even bother to check the price,” he lamented, adding that only 250 grams of tomatoes is priced at Rs 50, which translates to Rs 200 directly. Kilo.
“With growing children, it has become almost impossible to run a kitchen on a single and meager salary,” she lamented.
17,732 for groups spending up to Rs. 17,733-22,888 rupees; 22,889-29,517 rupees; 29,518-44,175 rupees; and above Rs.44,175; YoY SPI increased by 28.48%, 26.47%, 31.69%, 33.00%, and 31.40% respectively.
YoY trend 29.83 due to rising prices of wheat flour (131.40%), cigarettes (109.57%), gas (108.38%), tea (97.71%), broken basmati rice (82.86%) for the first quarter. Indicates an increase of %. ), Rice Ari-6/9 (73.73%), Tomato (67.54%), Chili Powder (66.74%), Sugar (64.12%), Chicken (60.51%), Gentes Sponge Chappal (58.05%), Jaggery (57.75%) ) ), and potato (55.75%).
Commodities that recorded year-on-year price declines include onion (37.10%), electricity (18.06%) for the first quarter, lentils (15.07%), and vegetable ghee 1kg (1.13%).
The working woman said on condition of anonymity that her father had taken a loan from the bank. “Since interest rates have been increased by the central bank, installment payments take up a large share of our combined income,” he said, explaining that his family spent one day this week making bread. There was no wheat flour in the house.
“We used to be a regular middle-class family, but I think we’re poor now,” he said.
Analysts recently said the central bank’s decision to keep interest rates at 22 percent despite rising petroleum prices to meet the IMF’s fiscal targets and expected consumer price index inflation in July. The decision was correct.
The central bank of Pakistan kept its policy rate unchanged as it expects inflation to moderate in the coming months.
