Inflation driven by food prices hikes to 27.83% in August

F.P. Report

ISLAMABAD: Inflation in Pakistan mainly driven by food prices spiked to 27.83% in the month of August, on Saturday.

The rate of inflation is continuously on the rise in Pakistan. According to the Pakistan Bureau of Statistics, inflation increased by 1.72% in the month of August.

Inflation rose to 27.38% during a period from July to August. During this period, prices of tomatoes increased by 75.3%, spices by 16.9%, eggs by 16.2%, and sugar by 9%.

In a week, the rate of sugar has increased by Rs11.54 per kg. The maximum price of sugar has increased to Rs 190 per kg.

In August, the prices of Daal Mash and dry milk increased by 5.5%, wheat products by 5%, potatoes by 4.3%, rice by 2.6%, liquid fuel by 14.6%, motor fuel by 8.2%, electricity charges by 1.37%, transport fares by 22% ,and postal charges by 20%.

Weekly SPI

According to the PBS, the Sensitive Price Index for the week ended on 31st August, 2023 increased by 0.54%.

Major increase is observed in the prices of food items, sugar (7.17%), Gur (2.11%), pulse Masoor (1.50%), and pulse Mash (1.39%).

Non-food items: gents sandal (15.01%), LPG (3.92%), lawn printed (2.36%), long cloth (2.22%), and Match Box (1.07%).

On the other hand, a decrease is observed in the prices of tomatoes (3.36%), bananas (2.49%), onions (2.01%), chicken (1.23%), garlic (0.58%), vegetable Ghee 2.5 kg (0.31%), vegetable Ghee 1 Kg (0.19%) and mustard oil (0.04%).

During the week, out of 51 items, prices of 20 (39.22%) items increased, 08 (15.68%) items decreased and 23 (45.10%) items remained stable.

The year-on-year trend depicts an increase of 24.39%, wheat flour (126.26%), gas charges for Q1 (108.38%), cigarettes (101.29%), sugar (94.06%), tea Lipton (93.94%), rice basmati broken (89.04%), chilies powder (86.05%), rice Irri-6/9 (81.82%), gur (67.02%), gents sponge chappal (58.05%), gent sandal (53.37%), salt powder (49.09%), bread (45.42%), and powdered milk (43.44%), while decrease is observed in the prices of onions (57.06%), tomatoes (48.77%), electricity for Q1 (21.96%) and pulse Masoor (9.04%).