The week saw a slight decline in Pakistan’s Sensitive Price Indicator (SPI), offering some relief for consumers. However, the weekly inflation rate remains high, surging by 43.16% compared to the same week last year. Find out more about the impact of inflation on the economy at The Express Tribune.

The annual short-term inflation rate in Pakistan increased by 43.16% due to higher prices of pulses, rice, and vegetables, impacting consumer purchasing power. Gas charges and electricity tariffs were also higher, contributing to the upward trend. Source: Dawn

Pakistan’s weekly inflation has surged by 43% YoY according to official statistics, highlighting the concerning rise in the cost of living. Essential commodities such as gas charges, cigarettes, and wheat flour experienced significant price hikes, while a few items saw minor price decreases. This steep increase in inflation adds to Pakistan’s economic challenges, raising concerns about citizens’ purchasing power and economic stability.

Pakistan continues to face a surge in inflation, reaching a six-month high, with food items like sugar, pulses, eggs, and rice experiencing significant price increases. The State Bank of Pakistan has maintained its record-high benchmark interest rate of 22 percent in hopes of easing inflation while awaiting signs of improvement.

Vietnam’s rice export price has surged by 40% since the beginning of the year, reaching $633 per ton for five percent broken rice. This increase is driven by a downturn in the global market supply and export bans imposed by several countries, creating favorable opportunities for rice exporters and suppliers.

Vietnam’s rice export prices have surged by 40%, marking a positive trend and benefiting local farmers. Global supply disruptions and export bans in various countries have contributed to these price increases, leading to record-breaking revenue in the rice export market.

The Port of Karachi has reported significant shipping activity with five ships berthed, including APL Qingdao, OBE Dinares, AgiosPorfyrios, Ensemble, and Ullswater. These vessels will load and offload various goods, highlighting the Port’s importance as a regional trade hub.

According to official statistics, Pakistan’s weekly inflation has surged by a staggering 43% year-on-year, causing alarm for citizens grappling with rising living costs and highlighting economic challenges. Gas charges skyrocketed by 1108.59% and essential commodities such as cigarettes and wheat flour saw significant price hikes. Attention is now focused on potential strategies and policies to address the escalating inflationary pressures. [Source: PK Revenue]

State Logistics Agency (Bulog) assures the public of an adequate rice supply for the Christmas and New Year holidays. With 1.4 million tons of rice stocks in warehouses and additional imports, price stability and aid distribution are ensured. Anticipating potential price increases, Bulog implements food aid distribution and the SPHP Program. Assistance distribution will continue until March 2024.

The district level monitoring committee, chaired by Deputy Commissioner Dr. Waghmare Prasad Krishna, held a meeting to discuss the selection of procurement centers for the paddy procurement scheme. Approved centers and designated FPOs will be affiliated with rice mills to ensure efficient paddy lifting.