Tag: Consumer Impact

  • Weekly inflation increases to 27.5%, impacting household expenses

    Weekly inflation increases to 27.5%, impacting household expenses

    According to official data from the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) shows that inflation for the week ending on August 17 increased by 27.57 per cent compared to the same period last year. In simpler terms, things are getting more expensive.

    Looking at shorter periods, within a week, inflation went up by 0.78 per cent. This means prices are rising quickly and there’s no sign of them slowing down, which is worrying for both economists and consumers.

    Comparing some numbers, the overall price index was 275.57 on August 17, up from 273.43 on August 10 this year, and a significant increase from 216.02 on August 18 last year.

    Out of the things people buy, 32 items got pricier, 7 got cheaper, and 12 stayed the same. Among the things that became more expensive this week compared to a year ago were things like chillies powder (up 7.58 per cent), rice irri-6/9 (up 7.48 per cent), garlic (up 5.06 per cent), sugar (up 4.02 per cent), gur (up 3.23 per cent), and chicken (up 2.83 per cent). non-food items like diesel (up 7.29 per cent) and petrol (up 6.40 per cent) also got more expensive.

    On the flip side, the price of some things dropped. Tomatoes got 13.60 per cent cheaper, cooking oil (5 liters) became 1.65 per cent cheaper, and there were smaller drops in prices for things like vegetable ghee and wheat flour.

  • Utility Stores hike sugar, ghee, and flour prices following subsidy withdrawal

    In a surprising move, the Utility Stores Corporation (USC) has raised the prices of crucial commodities such as sugar, ghee, and flour, affecting consumers across the board, including those enrolled in the Benazir Income Support Programme (BISP). This price increase comes in the wake of the outgoing government’s decision to eliminate subsidies on these essential items.

    Among the notable price hikes, a 10-kg bag of flour has witnessed a substantial increase of Rs200; sugar prices have surged by Rs30; and ghee prices have risen by Rs53 per kilogramme. This unforeseen surge in prices has left many consumers bewildered, especially considering that the government recently augmented the subsidy allocation for the USC from Rs30 billion to Rs35 billion in the ongoing fiscal year’s budget.

    In a bid to alleviate the burden on consumers, the Prime Minister’s Azadi package for BISP beneficiaries is set to launch on August 11. This relief package aims to cushion the impact of the price hikes by offering a 10-kg bag of flour at a reduced price of Rs648. Additionally, a discount of Rs25 per kilogramme will be applied to rice and pulses for eligible beneficiaries.

    However, the plight of consumers has been compounded by widespread shortages of essential goods at utility stores. Frustration among citizens has mounted as they endure long lines for houRsin the hope of purchasing subsidised items, only to be met with empty shelves and disappointment. The lack of availability has further exacerbated the challenges posed by the recent price increases.

    Curiously, authorities at the utility stores have refrained from commenting on the escalating situation. This silence has left consumers and observers alike wondering about the root causes of these unexpected developments and the potential implications for the broader economic landscape.