Tag: essential goods

  • Weekly inflation in Pakistan remains above 40% for sixth consecutive week

    Weekly inflation in Pakistan remains above 40% for sixth consecutive week

    In the week concluding on December 21, weekly inflation exhibited a marginal easing but persisted above 40 per cent for the sixth consecutive week. 

    Official data released for this week highlighted heightened consumer costs for eggs, firewood, and pulses. 

    The Pakistan Bureau of Statistics (PBS) revealed a 0.51 per cent decline in the Sensitive Price Indicator (SPI) from the previous week, attributed to lower prices of potatoes, petrol, diesel, tomatoes, and sugar.

    Despite this reduction, the SPI inflation rate remained notably high at 43.16 per cent, surpassing last year’s figure of 42.68 per cent for the same week. 

    This elevated inflation has adversely impacted the purchasing power of consumers, particularly those in lower and middle-income brackets. 

    The decline in SPI was driven by significant drops in the prices of potatoes (13.17 per cent), petrol (4.97 per cent), diesel (4.68 per cent), tomatoes (3.45 per cent), sugar (1.16 per cent), and other essential items.

    Conversely, considerable increases were observed in the prices of eggs (10.4 per cent), firewood (1.23 per cent), onions (1.19 per cent), and various pulses. 

    Out of the 51 essential items in the SPI, 35.29 per cent experienced price increases, 17.65 per cent saw decreases, and 47.06 per cent remained stable during the week.

    ConsumeRsin the lowest income bracket, earning up to Rs17,732 per month, faced a substantial SPI inflation rate of 35.13 per cent. 

    Meanwhile, the higher-income group, spending more than Rs44,175 per month, encountered an even higher SPI inflation rate of 40.93 per cent. 

    The middle quintile, ranging from Rs22,889 to Rs29,517, experienced a weekly inflation rate of 46.46 per cent.

    Various consumer goods displayed a mix of price increases, decreases, and stability, as indicated by the latest PBS data. 

    Notably, the price of a dozen eggs rose by 10.42 per cent, reaching Rs388.7, while firewood’s 40kg bundle increased by 1.23 per cent, totaling Rs1146. 

    Onion prices rose by 1.2 per cent, and various pulses witnessed increases.

    In contrast, potato prices per kilogramme dropped significantly by 13.17 per cent, reaching Rs76.8/kg, and petrol recorded a decrease of 4.97 per cent per litre, settling at Rs268.41. Hi-Speed Diesel also saw a decline of 4.68 per cent, reaching Rs277.29 per litre. 

    Tomatoes and refined sugar experienced decreases of 3.45 per cent and 1.16 per cent, respectively.

    Several essential commodities, including bread, beef, mutton, and various household items, maintained stable prices during the week with no significant fluctuations.

  • Basic necessity becomes luxury in Quetta: Flour shortage drives prices up to Rs2,800 per 20kg bag

    Basic necessity becomes luxury in Quetta: Flour shortage drives prices up to Rs2,800 per 20kg bag

    In Balochistan’s capital of Quetta, a shortage of flour has led to skyrocketing prices for 20kg bags of the commodity. According to reports, profiteers are taking advantage of the situation and selling flour bags for between Rs2,640 to Rs2,800 in Quetta and surrounding areas.

    The residents of Quetta are frustrated that they are unable to obtain flour at the government’s fixed rate and are instead forced to pay an excessive price. They are calling on the provincial government to take action against the profiteers and ensure the availability of flour.

    According to ARY News, the President of Flour Mills Association Balochistan, Nasir Agha, has also weighed in on the crisis. He stated that the supply of wheat to the mills has been suspended for the last ten days, and he blamed the incompetence of the Balochistan food department for the current situation.

    With prices for flour continuing to rise, it remains to be seen how the provincial government will respond to the demands of the residents and the Flour Mills Association.

  • Annual inflation in Pakistan jumps to 38.63% after weekly increase of 0.82%

    Annual inflation in Pakistan jumps to 38.63% after weekly increase of 0.82%

    The sensitive price indicator (SPI) hit an annualised high of 38.63 per cent due to a lack of perishable goods brought on by severe rains, and weekly inflation increased by 0.82 per cent for the seven days ending August 4, 2022.

    The base for most cooked meals in the country is an onion and tomato. Onions increased in price from Rs75.41/kg to Rs94.2/kg while tomatoes increased from Rs74.07/kg to Rs82.91/kg.

    Data from the Pakistan Bureau of Statistics (PBS) indicates that the increase is attributable to the increased price of diesel (109.15 per cent), onions (107.95 per cent), pulse masoor (106.71 per cent), petrol (88.94 per cent), cooking oil 5 litre (74.44 per cent), mustard oil (73.89 per cent), chicken (73.42 per cent), vegetable ghee 1 kg and 2 kg (72.26 and 70.48 per cent), washing soap (62.62 per cent), pulse gramme (59.07 per cent), electricity for Q1 (52.61 per cent), gents sponge slippers (52.21 per cent), pulse maash (46.01 per cent) and garlic (41.16 per cent).

    According to The News, consumers are struggling with soaring food and fuel prices. Hi-speed diesel was being sold last August 5 for Rs117.58 per litre, but it is now Rs245.92 per litre.

    Various items in the SPI basket are given varying weightages. The goods with the heaviest weights in the bottom quintile are milk (17.5449 per cent), electricity (8.3627 per cent), wheat flour (6.1372 per cent), sugar (5.1148 per cent), firewood (5.0183 per cent), long cloth (4.2221 per cent), and vegetable ghee (3.2833 per cent).

    While the cost of firewood and electricity remained consistent, the cost of milk, wheat flour, sugar, long fabric, and vegetable ghee 2.5kg increased. Vegetable ghee 1kg saw a decrease in price.

    SPI is made up of 51 necessities that were gathered from 50 markets spread over 17 cities across the nation.

    Out of 51 goods, 33 (64.71 per cent) of the prices rose during the week, 4 (7.84 per cent) of the prices fell, and only 14 (27.45 per cent) of the prices kept the same.

    The price of onions increased by 24.92 per cent, tomatoes by 11.93 per cent, pulse moong by 5.72 per cent, pulse mash by 5.28 per cent, potatoes by 5.03 per cent, pulse masoor by 4.43 per cent, diesel by 3.78 per cent, pulse gramme by 2.69 per cent, eggs by 2.44 per cent, powdered milk by 1.61 per cent, gur by 1.53 per cent, LPG by 1.49 per cent, salt by 1.46 per cent, and garlic by 1.30 per cent on a WoW basis.