Islamabad: Inflationary pressure in the country could not be completely reduced, as according to the latest weekly price report, most daily necessities became expensive during the past week, while a decrease in the prices of some important food items and petroleum products was also recorded.
According to official data, the prices of 22 essential items increased during the review week, 8 items became relatively cheaper, and the prices of 21 items remained almost stable compared to the previous week. The report shows that consumers are still having to bear higher expenses on several basic food items.
According to the report, the price of potatoes increased by 3.94 percent while the price of chicken increased by 3.70 percent. During the same period, the price of onions increased by 3.54 percent and the price of flour by 1.61 percent. In addition, many other basic food items including eggs, beef and fresh milk also became expensive, which is likely to put further pressure on the household budget.
On the other hand, consumers also got partial relief on some items. According to the report, the price of tomatoes decreased significantly by 23.30 percent, while moong dal became cheaper by 2.15 percent and masoor dal became cheaper by 0.52 percent. Similarly, the prices of petrol, diesel, LPG and sugar also decreased, which is being termed as a positive development by consumers and business circles.
According to economists, weekly fluctuations in food prices are linked to seasonal factors, supply and demand situations, transportation costs and supply chain in local markets. According to him, if the supply of basic food commodities remains stable and effective price monitoring continues, there may be possibilities of further reduction in inflationary pressures in the coming weeks; however, the overall trend will depend on the country’s economic conditions and market conditions.
