Retailers flout official food prices
IMF projects 7.2% inflation this fiscal year, up from its earlier 6.3% estimate. PHOTO: PIXABAY
Consumers in Lahore continued to face high food inflation this week as retailers sold most essential items above officially notified rates despite repeated claims by the district administration of strict market monitoring and enforcement.
Although the government continued issuing daily price lists, retailers largely ignored the official rates, widening the gap with market prices.
The trend came despite earlier reductions in petrol and diesel prices, which would lower transportation costs and help reduce retail prices of perishable commodities. Instead, prices of vegetables, fruit and poultry either increased or remained significantly above official rates, leaving consumers without any benefit from lower logistics costs.
Poultry prices recorded some of the sharpest increases during the week. The official rate for live chicken was raised by Rs55 per kilogramme to Rs309323 per kg, although it remained largely unavailable at the notified price. Officially priced at Rs468 per kg after a Rs65 increase, chicken meat was sold across the city for between Rs510 and Rs550 per kg. Boneless chicken continued to retail at Rs850950 per kg. Vegetable prices showed a mixed trend, although most perishable items became costlier. Sugar-free potatoes were officially priced at Rs3235 per kg but sold for Rs6080 per kg. Among kitchen staples, local garlic declined by Rs5 per kg to an official rate of Rs130135 per kg but continued selling for Rs200250 per kg.