Inflation soars markets in second quarter of Ramzan

Abdullah Momand

ISLAMABAD: The prices of essential food items including fruits, vegetables and chickens have jumped over 20 percent in open market in federal capital Islamabad with the start of second quarter of Ramzan the Frontier Post done markets survey on Wednesday across the capital.

It should be noted here that this year, however, the inflationary pressure in the economy has hit daily wage earners and blue collar workers particularly hard since many of them have already lost work due to the coronavirus pandemic and the ensuing lockdowns across the country.

In first quarter of ramzan the price of one kilo chicken was Rs 150 but with the start of second quarter of ramzan the price of chicken jumped to Rs 185/kg with the increase of 35 rupees while the vendors blames the recent lockdown triggered by the deadly virus that supply and chain mechanism disturbed and prices jumped and increase.

In federal capital market the prices of fruits also increased by thirty to forty rupees in second quarter of ramzan as the prices of a dozen bananas had jumped to as much as Rs180 with an increase of thirty rupees. The Irani imported black (Kalako) apple price in first quarter of ramzan was around 200-250 Kg but now with the increase of one hundred rupees the price reached to 350/kg as well the prices of white apple reached to 180 from 150 rupees.

It should be noted here that despite from government attempts of reducing petroleum prices and decreasing of interests by state bank of Pakistan the kitchen items prices are increasing not decreasing due to poor check and balance by the government machinery. The country’s central bank has cut the interest rates from 13.25 percent in January to 9 percent in recent weeks to help boost the dwindling economy and bring down the inflation rate as well the government has reduced petrol and diesel prices by 27 percent and 35 percent respectively for this month to provide relief to people who have suffered major losses to their income stream due to the pandemic. As ramzan entered into second quarter the prices of vegetables also increased, the price of tomato was Rs 30/kg but with an increase of twenty rupees the prices of tomato reached to Rs 50/kg. The price of peas in market was Rs 100/kg but with an increase of 40 rupees the price of one kilo peas jumped to 140 rupees.

The cabbage price in market was Rs 40/kg in first quarter of Ramzan but now with increase of thirty rupees the price jumped to Rs 70, while the prices of potato, onion and bitter gourd remain stable in market.