Monday, May 27, 2024

Pakistan’s Annual inflation rate reached 29.44% due to increase in prices of food items

The weekly inflation has increased by 0.29 percent in the past week and the annual rate of inflation has been recorded at 29.44 per cent. The Pakistan Bureau of Statistics (PBS), in its weekly inflation report, stated that the prices of 17 essential commodities have increased and the prices of 14 commodities have decreased, while the prices of 20 commodities have remained stable.According to the PBS, there has been an increase of 10.22 per cent in onion prices, 27.40 per cent in tomato prices, and 1.18 per cent in dry milk prices.

It stated that there has been a decrease of:

  • 4.87 per cent in potato prices
  • 4.49 per cent in LPG prices
  • 3.06 per cent in pulses and grams prices
  • 5.16 per cent in lentils prices
  • 0.22 per cent in cooking oil prices
  • 0.73 percent in garlic prices
  • 0.98 per cent in daal moong prices
  • 1.67 per cent in daal mash prices
  • 0.45 per cent in mustard oil prices
  • 0.36 per cent in flour prices.

It further said that the prices of 20 essential commodities have been stable in recent weeks.According to PBS, during the last week, a 24.58 percent inflation rate was recorded for those earning up to Rs17,732 per month; 24.03 percent for those earning between Rs17,733 to Rs22,888 per month; 28.13 percent for those earning between Rs22,889 to Rs29,517 per month.

Similarly, as for those earning Rs29,518 to Rs44, 175 per month, the inflation increased by 30.54 per cent and 35.21 per cent for those earning more than Rs44,176 per month.

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