Inflation rate in Pakistan reaches 15.16 Percent

Islamabad: According to the latest weekly report released by the Pakistan Bureau of Statistics, inflationary pressure has further increased in the country, as a result of which the daily life of the people has started getting affected. According to the report, the weekly inflation rate was recorded to increase by 0.79 per cent during the week, while the overall inflation rate on an annual basis reached 15.16 per cent.

The report of the Bureau of Statistics states that during the recent week, the prices of 22 essential commodities increased and 14 items became cheaper, while the prices of 15 items remained stable. According to experts, the increase in the prices of food and petroleum products is becoming the main reason for the increase in inflation.

According to the report, the highest increase was recorded in the price of chicken, which increased by 12.82 per cent during the week. Similarly, the price of a 20-kg bag of flour also increased by 3.42 per cent, which put an additional financial burden on the middle and low-income classes.

According to the Bureau of Statistics, a significant increase was also seen in the prices of petroleum products. In a week, the price of diesel increased by 5.10 per cent while the price of petrol increased by 1.66 per cent. Experts say that the increase in fuel costs increases transport costs, which directly affects the prices of food and other essential goods.

The report further stated that the prices of fresh milk, yoghurt, beef, mutton and ready-made tea also increased, which has raised the fear of further impacting the household budget. Citizens say that the continuously increasing inflation has made it difficult to manage household expenses.

On the other hand, a decrease in the prices of some food items was also seen. According to the Bureau of Statistics, a decrease of 7.08 percent was recorded in the price of tomatoes and 1.22 percent in the price of eggs. Similarly, the prices of garlic, onion, lentils, chickpeas and LPG also decreased, which gave partial relief to the public.

According to economists, the main reasons for the recent increase in inflation are global oil price fluctuations, local supply chain problems and the depreciation of the rupee. They say that if the prices of essential commodities and fuel do not stabilise, inflation may increase further in the coming weeks.

Experts have urged the government to make market monitoring effective, intensify actions against hoarding and take immediate steps to provide relief to the common man so that the effects of rising inflation can be reduced.