Unstoppable inflation reaches a new all-time high of 46%.
The prices of necessary items go up on a weekly basis by 0.96 percent.
ISLAMABAD: Prices for necessities have been rising across the nation as the spiraling inflation rate, also known as the Sensitive Price Indicator (SPI), reached a new high of 45.64% on an annual basis and grew by 0.96% the previous week.
The Pakistan Bureau of Statistics (PBS) reported on Friday that during the week ending March 16, 2023, the cost of 28 necessities increased, 11 decreased, and 12 stayed stable.
Onions saw an increase in price of 233.89%, cigarettes of 165.86%, gas prices for Q1 of 108.38%, diesel of 102.84%, branded tea of 81.29%, petrol of 81.17%, rice irri-6/9 of 78.75%, rice basmati of 78.10%, bananas of 77.84%, eggs of 72.19%, pulse moong of 69.44%, wheat flour of 56.27%, and bread of 55.36%.
On an annual basis, the price of tomatoes decreased by 21.87% and the price of powdered chilies by 7.42%.
On a weekly basis, there was a significant price increase in the category of food items as the cost of tomatoes increased by 18.06%, the cost of branded tea by 9.26%, the cost of potatoes and bananas by 4.52% and 4%, the cost of sugar and wheat flour by 2.40%, the cost of five liters of cooking oil by 1.20%, and the cost of 2.5 kilograms of vegetable ghee by 1.16%.
Other commodities saw price increases of 5.77% for lawn, 4.65% for fuel, 2.80% for shirts, and 1.84% for petrol.
Onions decreased in price by 15.91%, chicken meat by 5.97%, garlic decreased in price, pulse masoor increased in price, eggs increased in price, LPG decreased in price, one kilogram of vegetable ghee decreased in price, pulse gram decreased in price, pulse mash decreased in price, pulse moong decreased in price, and mustard oil decreased in price.
The results for the week under consideration show that the annual inflation rate for the group with incomes up to Rs17,732 per month was 41.32%.
The annual inflation rate for the group of those earning between Rs 17,733 and Rs 22,888 per month was 44.23%.
The annual inflation rate for the group earning between Rs 22,889 and Rs 29,517 per month was 44.51%.
The annual inflation rate for persons making between Rs. 29,518 and Rs. 44,175 per month was 45.04%.
For those who earn more than Rs 44,176 per month, the annual rate of inflation has risen to 47.97%.
The ninth review of Pakistan’s loan program between Pakistan and the International Monetary Fund (IMF) began on January 31 and was supposed to be ended on February 9 but hasn’t been finished yet.
