Flour Prices in Lahore Spike to Rs. 2,700 per 20kg Bag
Published on: November 9, 2023.
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Surging Flour Prices Leave Citizens in Lahore Struggling
Flour prices in Lahore have skyrocketed, with a 20kg bag now costing a staggering Rs.2,700. This sudden increase has had a significant financial impact on citizens, who are grappling with the rising costs. The blame for this surge falls on flour mill owners who point fingers at the Punjab government for failing to provide government-subsidized wheat. As a result, market prices have soared from Rs.4,300 to Rs.4,700 per 40kg.
Mill owners argue that the government has not yet issued an official notification regarding the fixed price of flour, which ideally should be between Rs.3,500 and Rs.3,900. The absence of regulation has further exacerbated the situation, allowing prices to escalate uncontrollably.
Inflation on the Rise Across the Nation
These soaring flour prices align with a larger trend of increasing inflation throughout Pakistan. Recent data from the Pakistan Bureau of Statistics (PBS) reveals a weekly inflation rate of 0.71%, contributing to an eye-watering annual inflation rate of 29.88%. The demographic group most affected by this inflation are those with a monthly income ranging from Rs.22,889 to Rs.29,517, experiencing an inflation rate of 30.22%.
The PBS report highlights the rising costs of essential items, including a 1.61% increase in potatoes, a 25.25% increase in onions, a 25.58% increase in tomatoes, a 10.79% increase in chicken, a 1.30% increase in eggs, and a 1.58% increase in tea leaves. Additionally, garlic, basmati rice, and firewood have seen slight increases of 0.50%, 0.19%, and 0.05% respectively.
On the other hand, some items have experienced price reductions, including a 2.66% decrease in garh, a 1.62% decrease in cooking oil, a 1.05% decrease in LKPG, a 0.93% decrease in dal masoor, and a 0.93% decrease in washing soap and mustard oil by 0.32%.
A Call to Action
The rising flour prices and overall inflation pose significant challenges for Pakistani households, particularly those with low incomes. It is crucial for the government to take swift action to alleviate this financial burden and stabilize prices.
Source: eNews Hamariweb
