Annual inflation jumps by 27.13% this week

Over 23 essential items went dearer; prices of 14 items decreased in the recent week

ISLAMABAD:

As the spending power of consumers continues to take a beating, the rate of weekly inflation in the country climbed by 0.35% while the annual rate in the recent week has been 27.13%.

According to the Federal Bureau of Statistics’ weekly inflation report, at least 23 essential items went dearer and the prices of 14 items decreased in the recent week, while the prices of 14 items have remained stable.

In recent weeks, salt prices have increased by 4.84%, tomato prices by 2.63%, dry milk prices by 2.22%, tea prices by 1.24%, fresh milk prices by 1.23% and costs of firewood have soared by 1.57%.

Meanwhile, the prices of potatoes saw an increase of 1.88% and the prices of LPG increased by 0.45% and an increase of 3.63% was recorded in the prices of lentils.

However, the prices of black gram decreased by 1.74%, the prices of chicken by 3.49% and the prices of flour by 1.95%. The statistics also showed that prices of 14 essential commodities have been stable in recent weeks

According to the statistics, during the last week, the inflation rate for the strata of society with a monthly income of up to Rs17,732 was 22.65%, 26.14% in the rate of inflation for the group with an income of Rs22,889 to Rs29,517 per month.

Similarly, the rate of inflation had increased by up to 328.48% for those earning Rs29,518 to Rs,44,175 per month. Meanwhile, the rate of inflation has surged by 32.58% for the group with an income of more than Rs44,176.