Inflation on the rise

By: News Desk
Published: 01:16 AM, 30 Jan, 2021
Inflation on the rise
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Inflation continued going up, Pakistan Bureau of Statistics (PBS) said on Friday.

The Sensitive Price Indicator registered an increase of 0.52 per cent over last week, mainly due to raise in rates of food items. Prices of 18, out of 51, essential items increased and rate of nine items decreased, the PBS said. The prices of chicken, cooking oil, ghee, mustard oil and washing soap surged while prices of potatoes, onions, LPG, sugar pulses and bananas went down, the bureau said. 

A couple of days ago, former finance minister Dr Hafiz Pasha warned the inflation rate will reach 10 per cent in six months if the surge in oil and electricity prices in the international market continue going up. He foresaw the next six months worst ever for the common persons of the country. 

Like other parts, the country has severely been affected by the coronavirus spread. Experts have been struggling for balancing between life and livelihood. Micro, small, and medium-sized enterprises (MSMEs) are being dubbed as the major victims and continued increase in prices of oil and electricity are adding fuel to fire in case.

Categories : Business