News

Inflation rate for lower income group soars to 19 : PBS

November 13, 2021 01:00 PM


According to the weekly inflation report released by the Pakistan Bureau of Statistics, the rate of inflation for the lower income group has jumped to 19%, reported 24NewsHD TV channel on Saturday.

The statistics belie the government claim that inflation is a global phenomenal and we would be through. The rising prices are hitting hard to the poor. During current week, the prices of 30 items have increased. The price of tomatoes has been soared by Rs23/kg, oil price raised by Rs12/litre, diesel and petrol by Rs8/litre. Besides these, all other food items including onion, potato, gur, milk and yogurt have also become dearer. 

The prices of vegetables are also going through the roof and vegetables are also getting out of the access of poor people. 

In Karachi, green peas are being sold for Rs400/kg, garlic for Rs320 and potatoes for Rs80/kg.

On the direction of the government, the Pakistan Bureau of Statistics would release weekly report on inflation measured through the sensitive price index (SPI). According to the statistics, the inflation rose by 1.81% during this week that ended on Nov 11 as compared to the last week. On a week-on-week basis, 1.81% inflation is the highest during last three months. In October, the highest weekly inflation was recorded that was 1.29%.

For the low income group who are earning less than Rs17,000 per month, inflation has soared by 1.55% and for those who are earning more than Rs44,000, the inflation has been increased by 1.79%

Another reason for the government failure to control the food prices in the country is its poor governance. Despite lower prices in the vegetable market, the retailers are selling vegetables at exorbitant prices. For example, the wholesale price of garlic is Rs200 per kg but retailers are selling it at Rs320/kg. 

The vegetable sellers are of the view that the prices are spiraling up due to connivance of vegetable market owners and middlemen. 

 

 



Most Read

  1. Solar panel rate sinks massively in Lahore Solar panel rate sinks massively in Lahore
  2. LHC orders steel mill demolition over pollution LHC orders steel mill demolition over pollution
  3. Foreigners safe after suicide-bomber targets their van in Karachi Foreigners safe after suicide-bomber targets their van in Karachi
  4. Mehar Bano and Mamya Shajaffar’s bold dance videos invite public's wrath Mehar Bano and Mamya Shajaffar’s bold dance videos invite public's wrath
  5. Finance minister rules out further rupee devaluation Finance minister rules out further rupee devaluation
  6. Iran shoots down several drones as Israel ‘launches’ attacks Iran shoots down several drones as Israel ‘launches’ attacks

Opinion

  1. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  2. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  3. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  4. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  5. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  6. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer