Annual rate touches 29.21%
According to the Pakistan Bureau of Statistics (PBS) report on Thursday, inflation has surged by 3.73% in the last week, leading to a record annual rate of 29.21%. These figures highlight the severity of the current economic situation in the country.
The report pointed out that prices of 20 key items, including eggs, tomatoes, chilli, garlic, potatoes, onions, jaggery, electricity, and LPG, have experienced significant hikes within the past week. For example, sugar prices ranged from Rs135 to Rs160 per kilo in different cities, while live broiler chicken costs escalated from Rs368 to Rs580 per kilogramme (kg).
Specific items recorded substantial price jumps, with LPG prices rising by 4.12%, garlic by 3.09%, onions by 2.58%, and jaggery by 2.18%. Moreover, on an annual basis, potatoes and wheat flour became dearer by 2.09% and 132%, respectively.
The data also showed soaring prices for various other items over the past year. Tea prices rose by 98%, rice by 79%, sugar by 63%, potatoes by 62%, tomatoes by 60%, and jaggery by 57%. Chicken and red chilli experienced a substantial increase of up to 55%.
Apart from essential goods, other sectors also witnessed significant price hikes, with gas charges surging by 108% compared to the previous year, further exacerbating the economic challenges faced by citizens.