Surging inflation hits wallets hard

The persistent trend of inflation in Pakistan shows no sign of abating as the latest weekly report reveals a slight increase of 0.20 percent in the inflation rate, pushing the annual inflation rate to a staggering 34.96 percent.

The impact of inflation has been particularly severe for individuals earning a monthly income between Rs17,733 and Rs22,888, with an inflation rate of 36.51 percent. Amidst this challenging scenario, the prices of 19 essential commodities have surged, while 12 have experienced a decline, and 20 have remained stable.

According to the Pakistan Bureau of Statistics (PBS) weekly inflation report, prices of potatoes, tomatoes, garlic, lentil mash, sugar, laundry soap, beef, mutton, open milk, curd, jaggery, flour, and salt have witnessed significant increases over the past week. Conversely, prices of LPG, mung dal, dal masoor, gram dal, eggs, onions, chicken, and cooking oil have registered a decline, while prices of 20 essential items stayed unchanged.

The report highlights specific price hikes in key commodities, with sugar prices increasing by 4.24 percent, jaggery by 2.42 percent, flour by 1.79 percent, curd by 1.59 percent, dal mash by 1.25 percent, garlic by 1.15 percent, and raw milk by 1.08 percent.

Meanwhile, during the same period, LPG prices rose by 4.14 percent, lentil prices by 0.42 percent, onion prices by 7.56 percent, egg prices by 4.86 percent, and vegetable ghee by 1.36 percent. However, prices of mung dal fell by 2.04 percent, dal chana by 1.46 percent, and mustard oil by 0.75 percent.

The statistics also reveal that, on an annual basis, the inflation rate for the income group earning up to Rs17,732 per month stands at 34.57 percent, while for the income group of Rs17,733 to Rs22,888, it is recorded at 36.51 percent.

The rate of inflation for the income groups ranging from Rs22,889 to Rs29,517, and from Rs29,518 to Rs44,175 per month, is 36.38 percent and 35.45 percent, respectively. Individuals with an income of over Rs44,176 per month faced an inflation rate of 35.40 percent.