Inflation, price control laxity tax consumers

Customers in city markets complain of overcharging.

LAHORE:

Owing to inflation and an inefficient price control mechanism, 18.62 per cent increase was recorded in the prices of 51 essential food and nonfood items during past week as compared to the previous year.

The Sensitive Price Indicator (SPI) report issued by the Pakistan Bureau of Statistics (PBS) showed that the essential commodities in 50 markets in 17 cities of the country witnessed 18.62% year-on-year increase during the week ending on January 27.

It highlighted that electricity tariff increased by 81.39%, tomato price 75.11%, liquefied petroleum gas (LPG) 51.9%, gents sponge chappal 50.25%, mustard oil 46.14%, cooking oil 45.61%, gents sandal 44.49%, soap 41.74%, vegetable ghee 41.11% and masoor 38.78%.

On the other hand, a decrease of 26.41% in the price of moong, 22.44% in powdered chilly, 11.19% in chicken and 2.06% in onions was recorded.

A weekly analysis showed that out of the 51 commodities, the prices of 17 increased, eight decreased and 26 remained stable. During the week, a decrease in the price of powdered chilly of 9.05%, potatoes 4.03%, onions 2.86%, eggs 2.19%, chicken 1.71%, sugar 1.14%, bananas 0.61%, and LPG 2.04% was observed.

Meanwhile, a 30.79% increase in tomato price, 4.51% in garlic, 1.71% tea, 1.28% mustard oil and 1.18% in gram pulse and five-litre cooking oil was recorded.

A survey of city markets also indicated that the prices of most essential commodities were increasing.

Several customers also complained about overcharging and profiteering in the provincial capital.

The notified price in the city of live chicken increased by Rs23 to Rs191, but in most areas it was sold for Rs200 to Rs230 per kilogramme on Sunday. Chicken meat was sold for up to Rs350 per kg in different areas.

In most markets, greengrocers sold blended potatoes for Rs40 per kg despite the official price new soft-skin potato A-grade of Rs31 per kg. Onion officially gained Rs6 per kg to Rs29 per, but was sold for over Rs40. Tomato was on sale for Rs120 to Rs140 per kg despite the notified price of Rs85, garlic Rs250 instead of Rs210.

Read: "Ministry sees further hike in inflation"