Tag: wheat flour

  • Weekly inflation in Pakistan spikes above 44%

    Weekly inflation in Pakistan spikes above 44%

    The Pakistan Bureau of Statistics (PBS) has reported that for the week ending on April 6, 2023, the Sensitive Price Indicator (SPI) based inflation has increased by 0.92 per cent. This rise is mainly due to an increase in the prices of food items such as chicken (15.87 per cent), sugar (13.48 per cent), potatoes (5.11 per cent), bananas (4.95 per cent), wheat flour (3.10 per cent), gur (2.12 per cent), eggs (1.26 per cent), fresh milk (1.24 per cent), and non-food item long cloth (1.95 per cent).

    The year-on-year trend indicates an increase of 44.49 per cent, which is primarily due to a surge in the prices of cigarettes (165.88 per cent), wheat flour (131.72 per cent), gas charges for q1 (108.38 per cent), diesel (102.84 per cent), eggs (98.34 per cent), Lipton tea (97.63 per cent), broken basmati rice (84.92 per cent), bananas (82.23 per cent), petrol (81.17 per cent), irri-6/9 rice (80.61 per cent), moong (68.14 per cent), potatoes (65.95 per cent), maash (56.70 per cent), and onions (55.75 per cent). However, a decrease in prices has been observed for tomatoes (50.39 per cent) and powdered chillies (6.48 per cent).

    The SPI for the week under review has been recorded at 252.06 points compared to 249.75 points in the previous week, as per the latest data released by PBS on Friday. During the week, out of 51 items, prices of 27 (52.94 per cent) items increased, seven (13.73 per cent) items decreased, and 17 (33.33 per cent) items remained stable.

    The average prices of commodities that have increased during the week over the previous week include chicken (15.87 per cent), sugar (13.48 per cent), potatoes (5.11 per cent), bananas (4.95 per cent), wheat flour (3.10 per cent), gur (2.12 per cent), long cloth 57” Gul Ahmed/Al Karam (1.95 per cent), eggs (1.26 per cent), fresh milk (1.24 per cent), irri-6/9 rice (0.80 per cent), shirting (0.75 per cent), beef with bone (0.71 per cent), broken basmati rice (0.69 per cent), curd (0.60 per cent), toilet soap Lifebuoy (0.56 per cent), lawn printed Gul Ahmed/Al Karam (0.55 per cent), prepared tea (0.44 per cent), powdered salt (0.39 per cent), Georgette (0.36 per cent), Sufi washing soap (0.31 per cent), mutton (0.18 per cent), moong (0.16 per cent), masoor (0.15 per cent), maash (0.09 per cent), cooked beef (0.04 per cent), cooking oil Dalda or other similar brand (sn), 5 litre tin each (0.04 per cent), and cooked daal (0.02 per cent).

    The commodities that have recorded a decrease in their average prices are tomatoes (14.96 per cent), onions (12.66 per cent), LPG (3.73 per cent), pulse gram (1.20 per cent), vegetable ghee Dalda/Habib 2.5 kg tin each (0.71 per cent), garlic (0.16 per cent), and mustard oil (0.03 per cent).

    Commodity Year-on-Year Change Week-on-Week Change
    Cigarettes 165.88 per cent N/A
    Wheat flour 131.72 per cent 3.10 per cent
    Gas charges for q1 108.38 per cent N/A
    Diesel 102.84 per cent N/A
    Eggs 98.34 per cent 1.26 per cent
    Lipton tea 97.63 per cent N/A
    Broken basmati rice 84.92 per cent 0.69 per cent
    Bananas 82.23 per cent 4.95 per cent
    Petrol 81.17 per cent N/A
    Irri-6/9 rice 80.61 per cent 0.80 per cent
    Moong 68.14 per cent 0.16 per cent
    Potatoes 65.95 per cent 5.11 per cent
    Maash 56.70 per cent 0.09 per cent
    Onions 55.75 per cent 12.66 per cent
    Tomatoes -50.39 per cent -14.96 per cent
    Powdered chillies -6.48 per cent N/A
    Chicken N/A 15.87 per cent
    Sugar N/A 13.48 per cent
    Gur N/A 2.12 per cent
    Long cloth 57” Gul Ahmed/Al Karam N/A 1.95 per cent
    Fresh milk N/A 1.24 per cent
    Shirting N/A 0.75 per cent
    Beef with bone N/A 0.71 per cent
    Curd N/A 0.60 per cent
    Toilet soap Lifebuoy N/A 0.56 per cent
    Lawn printed Gul Ahmed/Al Karam N/A 0.55 per cent
    Prepared tea N/A 0.44 per cent
    Powdered salt N/A 0.39 per cent
    Georgette N/A 0.36 per cent
    Sufi washing soap N/A 0.31 per cent
    Mutton N/A 0.18 per cent
    Masoor N/A 0.15 per cent
    Cooked beef N/A 0.04 per cent
    Cooking oil Dalda or other similar brand (sn), 5 litre tin each N/A 0.04 per cent
    Cooked daal N/A 0.02 per cent
    LPG N/A -3.73 per cent
    Pulse gram N/A -1.20 per cent
    Vegetable ghee Dalda/Habib 2.5 kg tin each N/A -0.71 per cent
    Garlic N/A -0.16 per cent
    Mustard oil N/A -0.03 per cent
  • Weekly inflation jumps over 46% as wheat flour prices reach all-time high in Pakistan

    Weekly inflation jumps over 46% as wheat flour prices reach all-time high in Pakistan

    The price of wheat flour has hit an all-time high, and this has caused weekly inflation to surge by 1.80 per cent week-on-week and 46.65 per cent year-on-year.

    The Pakistan Bureau of Statistics has attributed this rise in the sensitive price indicator to the increase in prices of several items, including wheat flour, tomatoes, potatoes, and bananas, among others. On the other hand, the PBS has noted a decrease in the prices of chicken, chilli powder, and LPG, among others.

    The increase in the price of wheat flour is due to the government’s change in subsidy mechanism, shifting from general subsidy to a targeted subsidy through the Benazir Income Support Programme. This change has led to a 42 per cent increase in the price of a 20kg bag of wheat flour, which has now reached an all-time high of Rs2,586. As we head into Ramadan, food prices are expected to continue rising, and the March 2023 CPI is expected to come in at 35.5 per cent on a YoY basis.

    Sticky inflation numbers, along with the stalled International Monetary Fund programme, have pushed the State Bank of Pakistan to raise its benchmark interest rate by 300 basis points to a 26-year high. The central bank is expected to raise the policy rate by another 100bps to 21 per cent in its upcoming monetary policy committee meeting on April 4. This rate hike is expected to spread massive poverty among the population.

  • PM Shehbaz decides to continue targeted subsidy on five essentials items

    PM Shehbaz decides to continue targeted subsidy on five essentials items

    Prime Minister (PM) Shehbaz Sharif on Monday decided to continue a targeted subsidy on five essential items — wheat flour, sugar, ghee/edible oil, pulses, and rice — at Utility Stores for the next financial year.

    The prime minister also approved the expansion of a network of Utility Stores in Karachi.

    “The small number of Utility Stores in Karachi is not acceptable in any way and a comprehensive plan for raising the number of Utility Stores in the megacity should be presented within two weeks,” tweeted PM Shehbaz.

    The decision was taken at a high-level meeting regarding Utility Stores in the country, with the PM in the chair. Minister for Finance Miftah Ismail, Minister for Industries and Production Murtaza Mahmood, and other senior officials were also in attendance.