Weekly inflation rises by 3.73%

Annual rate touches 29.21%

ISLAMABAD:

Inflation in the last week surged by 3.73% brining the annual rate to a record high of 29.21%, according to the Pakistan Bureau of Statistics (PBS) on Thursday, highlighting the severity of the current economic situation in the country.

The PBS report stated that within the last week, the prices of 20 key items, including eggs, tomatoes, chilli, garlic, potatoes, onions, jaggery, electricity and LPG had seen a significant hike. For instance, the price of sugar ranged from Rs135 to Rs160 per kilo in various cities, while live broiler chicken's cost escalated from Rs368 to Rs580 per kilogramme (kg).

The statistics showed that specific items experienced substantial price jumps.

Tomatoes' prices increased by 19.71%, red chilli by 28.98%, and eggs by 4.77%.

Read more: Weekly inflation dips marginally

The LPG prices rose by 4.12%, garlic by 3.09%, onions 2.58% and jaggery 2.18%.

Further, potatoes and wheat flour became dearer by 2.09% and 132%, respectively, on an annual basis.

The data indicated soaring prices for other items over the last year. Tea prices rose by 98%, rice by 79%, sugar 63%, potatoes 62%, tomatoes 60% and jaggery 57%. Chicken and red chilli experienced a substantial increase of up to 55%.

In addition to essential goods, other sectors also witnessed significant price hikes. Gas charges surged by 108% compared to the previous year, further exacerbating the economic challenges faced by the citizens.