Annual inflation breaks record, hits 39.26%

Prices of 21 essential commodities witness increase

ISLAMABAD:

Inflation across the country continued to break all records as the annual rate accelerated 39.26% while the weekly one crawled up by 0.21%.

As the federal government announced its budget with the promise of providing relief to the poor people and taxing the rich, the latest data released by the Pakistan Bureau of Statistics on Friday revealed that the prices of 21 essential items witnessed an increase this week.

Among individuals earning a monthly income ranging from Rs17,733 to Rs22,888, the inflation rate stood at 41.06%. During the recent week, the prices of 21 essential items saw an upward trend, while that of 10 items witnessed a decrease. On the other hand, 20 commodities’ prices remained stable.

Key items, including potatoes, onions, chicken, tomatoes, garlic, lentils, sugar, washing soap, beef, mutton, raw milk, curd, jaggery, tea leaves, and rice, became more dearer. Conversely, the prices of commodities such as LPG, mung dal, gram dal, flour, eggs, and cooking oil decreased.

The price of tomatoes rose by 29.15%, onions by 20.85%, chicken by 7.01%, tea by 1.38%, potatoes by 1.74%, and garlic by 1.02% within a week.

Meanwhile, the prices of LPG decreased by 6.60%, flour by 2.02%, egg by 3.41%, table vegetable ghee 0.33%, mung dal 2.22%, chickpea 0.65%, and mustard oil 2.16%.

The data revealed an annual inflation rate of 38.24% for the income group earning up to Rs17,732 per month. For individuals earning between Rs17,733 and Rs22,888 per month, the inflation rate stood at 41.06%. Likewise, the inflation rate was recorded at 40.20% for the income group earning from Rs22,889 to Rs29,517 per month and 39.27% for those earning between Rs29,518 and Rs44,175 per month.

Lastly, the group with an income exceeding Rs44,176 per month experienced an inflation rate of 39.32%.