The recent surge in petroleum prices has triggered a ripple effect across various sectors, leading to a noticeable rise in inflation rates in Pakistan.
According to the latest data released by the Federal Bureau of Statistics, the inflation rate soared from 0.4% to 3.68% within a week, reflecting the economic strain faced by consumers.
Among the essential commodities, prices of 23 items surged, exacerbating the financial burden on households. Staple items such as chicken, tomatoes, sugar, meat, and petrol witnessed significant price hikes, rendering them less affordable for the average citizen.
Tomatoes, a kitchen staple, saw a staggering increase of Rs 24.53 per kilogram, with the average price soaring to Rs 135 per kilogram. Similarly, broiler chicken, bananas, and sugar witnessed notable price escalations, further squeezing consumers' budgets.
However, there were some bright spots. Eight commodities saw price reductions, including onions (29% cheaper), eggs (31% cheaper), and LPG cylinders (6% cheaper). Wheat flour also saw a slight decrease.
The spike in gas charges by 84 percent over the past year has added to the financial strain on households, contributing to the overall inflationary trend. Additionally, tomatoes and red peppers witnessed astronomical price hikes of 200% and 82%, respectively, exacerbating the cost of living for many.
The items that recorded an increase in their average prices on a week-on-week basis included tomatoes (22.71%), bananas (7.40%), diesel (3.02%), chicken (1.22%), petrol (1.00%), sugar (0.87%), mutton (0.86%), beef (0.74%), curd (0.71%), pulse moong (0.54%), firewood (0.20%) and georgette (0.14%).
On year on year basis, the prices of commodities, which witnessed increasing trend in their respective prices included gas charges for ( 480.00%), tomatoes (199.93%), chilies powder (81.74%), wheat flour (65.29%), gents sponge chappal (58.05%), gents sandal (53.37%), sugar (50.84%), gur (48.96%), gur (48.96%), salt Powdered (39.97%), garlic (36.31%) energy saver (34.17%),
While, the prices of commodities that observed decrease including bananas (17.73%), vegetable ghee 1 KG (17.26%), mustard oil (15.98%), cooking oil 5 Litre (13.66%), vegetable Ghee 2.5 KG (12.02%), LPG (9.42%) and eggs (5.33%).
