ISLAMABAD: Weekly inflation for the combined group in the period ended on July 15 slightly increased by 0.41 per cent on the back of an uptick in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.
The week-on-week increase in inflation was noticed for the fifth consecutive week.
Since January, an upward movement in the prices of essential kitchen items was noted despite the government’s claims that rates of consumer items were declining.
The PBS calculates the Sensitive Price Index (SPI) based on the prices of 51 essential items from 50 markets across 17 cities of the country.
Minister for Finance and Revenue Shaukat Tarin ordered procurement of 100,000 tonnes of sugar to ensure strategic reserves of the sweetener. Photo courtesy Radio Pakistan/ File
ISLAMABAD: The National Price Monitoring Committee has expressed satisfaction over the recent declining trend in sugar price.
Presiding over a meeting of the committee here on Monday, Minister for Finance and Revenue Shaukat Tarin ordered procurement of 100,000 tonnes of sugar to ensure strategic reserves of the sweetener.
The finance secretary briefed the meeting about a slight increase of 0.07 per cent in the weekly Sensitive Price Index (SPI) indicating price stability as compared to previous weeks.
NPMC seeks more sugar import
Urges ministries to take action against those involved in hoarding and cartelisation
Free trade in sugar would make consumers better off by discouraging hoarding and over-pricing in the domestic market. PHOTO: FILE
KARACHI:
The Pakistan Tehreek-e-Insaf (PTI) government has directed concerned ministries, departments and officials to take action against those involved in hoarding, cartelisation and undue profiteering on foods and asked to build buffer stock of major commodities to bring price stability in the country.
Finance Minister Shaukat Tarin, while chairing a meeting of National Price Monitoring Committee (NPMC) on Monday, directed to import another 100,000 of sugar in one month in addition to an equal amount of the commodity arriving in Pakistan by mid of August.
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21. Reuters/File
KARACHI: Despite higher sugar production and heavy imports, consumers paid Rs20-25 more to buy a kilo of the sweetener in 2020-21.
In another development, the wholesale price in Karachi’s Jodia Bazaar rose to Rs100 per kg from Rs92 in the first week of the latest fiscal year, which starts on July 1, forcing the retailers to charge Rs105-110 per kg depending on the area.
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21 as compared to Rs78-85 in the preceding year.
ISLAMABAD: The weekly inflation, based on Sensitive Price Index (SPI), witnessed a nominal increase of 0.07 per cent for the period ended on July 8 compared to the preceding week for combined consumption group, showed data released by Pakistan Bureau of Statistics (PBS) on Friday.
According to the data, on a week-on-week basis the prices of chicken witnessed a decrease of 12.97pc and bananas recorded a 3.72pc fall.On the other hand, the items that witnessed increase in prices during the week included tomatoes up by 11.51pc whereas garlic rose by 8.31pc, onions by 4.85pc, sugar (refined) by 2.6pc, potatoes by 2.04pc and eggs by 1.67pc. APP