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Wednesday Feb 19 2020

Inflation surged 14.6% in January, National Price Monitoring Committee told

Inflation surged 14.6% in January, 2020, the National Price Monitoring Committee’s meeting was informed on Tuesday.

Sources said the meeting chaired by Advisor to Prime Minister Imran Khan on Finance and Revenue Abdul Hafeez Shaikh was called after six months.

The data of Sensitive Price Index and Consumer Price Index was presented in the meeting which revealed that flour prices in Punjab were the lowest in all the provinces — Rs809 per 20 kilos — while the same quantity was being sold for Rs1058 in Sindh, the highest in Pakistan.

Read more: Pakistan likely to miss growth target

The prices of 13 basic necessities had reduced last week while the rates of 19 items remained stable.

The surge in prices of basic necessities had troubled the masses, participants of the meeting were informed. The provincial governments should accept the responsibility of controlling prices as it is their duty, said secretary finance.

With Ramazan approaching, the provincial and local governments should gear up to control prices, he said.