Inflation breaks all records in Pakistan

INTERNATIONAL DESK: Inflation measured by the Sensitive Price Index has reached the highest level in the history of Pakistan due to an increase in the prices of petroleum products and disruption in the supply of commodities due to floods and heavy rains.

During the last one week, the weekly inflation rate in the country increased by 1.83% to reach a record high level of 44.58%.

Of the total 51 essential commodities, prices of 23 increased last week, while that of only seven decreased and 21 remained unchanged.

According to a report issued by the Pakistan Bureau of Statistics on Friday, the prices of 23 essential commodities have increased in just one week ending on August 25, 2022.

Among the items that have become expensive, price of tomato increased by 43.09%, onion by 41.13%, potato 6.32%, eggs 3.43%, garlic 2.23%, dry milk 1.53%, dal mash 1.12%, cigarettes 2.26% and LPG 1.95%.

The items whose prices dropped include dal masoor which fell by 1.18%, vegetable ghee 1%, cooking oil 0.51%, sugar 0.07% and mustard oil 0.07%.

According to the PBS statistics, in terms of decimal point of the sensitive prices on an annual basis during the last week, the inflation rate for the group with an income up to Rs17,732 per month was 37.54%, the group having income from Rs17,733 to 22,888 rupees per month – 43.51%, Rs22,889 to Rs29,517 per month – 41.97%, Rs29,518 to Rs44,175 per month – 41.90% and the group with a monthly income above Rs44,176 – 45.28%.

(The Nation)