Weekly Inflation Remains at Over 29%: A Comprehensive Update
Published on: November 11, 2023.
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Rising Cost of Essential Kitchen Items Leads to Increased Inflation in Pakistan
The short-term inflation in Pakistan remained elevated in the week ending on November 9, with a significant 29.86% year-on-year increase. This surge was primarily attributed to the rising cost of essential kitchen items.
According to official data released by the Pakistan Bureau of Statistics on Friday, the weekly inflation, measured by the Sensitive Price Index (SPI), also witnessed a 0.73% increase on a week-on-week basis.
Despite the hopes of consumers for a significant reduction in prices, the caretaker government has chosen to maintain the prices of petrol and high-speed diesel for the current fortnight. The interim government has disregarded the recommendation made by Ogra for a substantial decline in fuel prices and has instead decided to keep them unchanged at high levels.
Inflation Trends and Price Changes
Out of the 51 items included in the SPI basket, prices of 20 items increased, while prices of eight items decreased. The prices of 23 items remained unchanged compared to the previous week.
During the week under review, the items that experienced the highest price increases compared to the same week last year were as follows:
- Gas charges for Q1 (108.38% increase)
- Cigarettes (94.46% increase)
- Chillies powder (84.11% increase)
- Wheat flour (81.23% increase)
- Rice basmati broken (77.93% increase)
- Rice Irri-6/9 (60.65% increase)
- Garlic (58.23% increase)
- Gents sponge chappal (58.05% increase)
- Sugar (57.57% increase)
- Gents sandal bata (53.37% increase)
- Salt (53.02% increase)
- Gur (50.88% increase)
Significant week-on-week increases were observed in the prices of the following items:
- Tomatoes (15.43% increase)
- Potatoes (4.47% increase)
- Wheat flour (2.36% increase)
- Garlic (2.16% increase)
- Salt powdered (1.82% increase)
- Chicken (1.60% increase)
- Tea Lipton (0.96% increase)
- Georgette (0.95% increase)
- Banana (0.94% increase)
- Shirting (0.58% increase)
In light of these developments, it is crucial for rice exporters and suppliers in Pakistan to adapt their strategies and manage the impact of inflation on their businesses. High-quality rice exporters such as HAS Rice Pakistan and Pakistan Rice Exporters can continue to deliver top-notch products and services to customers. Additionally, white broken rice exporters have the opportunity to explore markets through platforms like Broken Rice Company.
For further information on rice prices, rice export from Pakistan, and rice mills in Pakistan, interested parties can visit the websites of HAS Rice Pakistan and Pakistan Rice Exporters.
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