Inflation rate in Pakistan eases to 28.55%
By News Desk
July 7, 2023 03:49 PM
The overall inflation rate in the country has eased to 28.55%, while the weekly inflation has registered a 0.70% increase, reported 24NewsHD TV channel.
However, the latest data shows Pakistanis are still feeling the brunt of the economic turmoil.
The Pakistan Bureau of Statistics on Friday released the Sensitive Price Index for the current week ended on July 6, 2023.
According to the report, a surge in the prices of 24 items has been recorded while a decrease in the prices of 10 items was observed during the current week. However, the prices of 17 essential items have remained stable.
As per the report, during the current week, the prices of the following items have been increased:
Gur (sugarcane) 4.01%
On the other hand, a decrease in the prices of eggs, ghee, cooking oil and lentils has been recorded during the current week.
The year-on-year trend depicts the increase of 28.55%, Wheat Flour (121.69%), Cigarettes (112.94%), Gas Charges for Q1 (108.38%), Tea Lipton (102.86%), Rice Basmati Broken (77.40%), Rice Irri-6/9 (74.61%), Potatoes (69.06%), Chicken (63.22%), Gents Sponge Chappal (58.05%), Salt Powdered (51.61%), Sugar (50.08%), Bananas (48.96%) and Bread (46.86%), while a decrease is observed in the prices of Onions (23.94%), Electricity for Q1 (14.58%), Tomatoes (13.26%), Pulse Masoor (7.17%), Diesel (5.82%) and Vegetable Ghee 1kg (0.81%).
Pakistan’s poverty rate is expected to reach 37.2 percent this year, according to a World Bank report released in April.
The rupee plunged to record lows against the dollar this year, making imported goods more expensive.
The country’s central bank raised its benchmark interest rate to a record-high 22 percent in an emergency meeting last week.
Reporter Waqas Azeem