High Inflation Rate of 29.88% Hits Pakistan
Published on: November 3, 2023.
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Inflation in Pakistan Surges to 29.88 Percent
November 3, 2023 04:33 PM
The weekly inflation measured by Sensitive Price Index (SPI) has risen to 0.71 percent, pushing the overall inflation up to 29.88 percent, according to a report released by the Pakistan Bureau of Statistics for the current week ended on November 2, 2023.
According to the PBS, there has been a major increase in the prices of several essential commodities. The price of tomatoes has increased by 25.58 percent, onions by 25.25 percent, chicken by 10.79 percent, potatoes by 1.61 percent, Lipton tea by 1.58 percent, eggs by 1.30 percent, garlic by 0.50 percent, basmati broken rice by 0.19 percent, georgette fabric by 0.28 percent, and firewood by 0.05 percent.
Conversely, there has been a major decrease in the prices of some items. The price of gur has decreased by 2.66 percent, bananas by 1.78 percent, cooking oil (5-litre) by 1.62 percent, vegetable ghee (1 kg) by 1.23 percent, LPG cylinder by 1.05 percent, pulse masoor by 0.93 percent, wheat flour by 0.62 percent, washing soap by 0.41 percent, and mustard oil by 0.32 percent.
Out of 51 items, prices have increased for 12 items (23.53 percent), decreased for 14 items (27.45 percent), and remained stable for 25 items (49.02 percent) during the week.
The year-on-year trend shows an overall increase in prices. There has been an increase of 29.88 percent in general inflation. Additionally, there has been a significant increase in gas charges for Q1 (108.38 percent), prices of cigarettes (94.46 percent), chilies powder (84.11 percent), broken basmati rice (78.08 percent), wheat flour (76.51 percent), sugar (62.60 percent), rice irri-6/9 (62.27 percent), gents sponge chappal (58.05 percent), Lipton tea (55.79 percent), garlic (54.51 percent), and gur (53.53 percent).
However, there has been a decrease in prices for tomatoes (26.26 percent), onions (13.98 percent), pulse gram (5.50 percent), mustard oil (4.47 percent), and vegetable ghee (1 kg) (1.97 percent).
Source: 24NewsHD TV channel
