Inflation clocks in at 42.27%
Men sell vegetables at their makeshift stalls at the Empress Market in Karachi, Pakistan April 2, 2018. REUTERS/Akhtar Soomro
Inflation is rapidly gaining momentum as it increased by 1.37 percent on a weekly basis while it grew by 42.27 percent on an annual basis.
In the recent week, 29 essential commodities became expensive and eight became cheaper in the country, while the prices of 14 remained stable.
According to the weekly inflation report released by the Pakistan Bureau of Statistics (PBS), during the recent week ending on March 9, 2023, the segment of the society earning more than Rs44,175 per month was the most affected by inflation as the inflation rate stood at 44.14 percent for them.
The prices of 29 essential items, including potatoes, onions, sugar, tomatoes, soap, flour, mutton, beef, vegetable ghee, daal mash, mustard oil, tea, matches, rice, and fresh milk increased during the past week. 8 items, including chicken, garlic, eggs, LPG, daal channa, daal masoor, and daal moong become cheaper. The prices of 14 essential commodities remained stable.
The prices of tomatoes increased by 12.43 percent, onions 9.26 percent, potatoes 11.37 percent, sugar 5.48 percent, cooking oil 4.27 percent, flour 4.97 percent, vegetable ghee 4.01 percent, yogurt 1.89 percent, milk 1.82 percent and tea 1.79 percent. Salt has gone up by 1.21 percent and basmati broken rice by 1.24 percent.
Chicken became cheaper by 6.73 percent, garlic 2.07 percent, daal moong 0.83 percent, daal masoor 0.50 percent, eggs 0.77 percent, LPG 0.26 percent, daal channa 0.05 percent, and firewood by 0.12 percent.
During the week ending March 9, the rate of inflation in the country has been 42.27 percent compared to the same period last year in terms of the Sensitive Price Index (SPI).
39.09 percent is the annual inflation rate for those earning up to Rs17,732 per month, 40.98 percent for those earning between Rs17,732 and Rs22,888, 41.79 percent for those earning between Rs22,889 rupees and Rs29,517, 42.53 percent for those earning between Rs29,517 and Rs44,175 and 44.14 percent for those whose income exceeds Rs44,176 rupees per month.