business
Tuesday Oct 26 2021
By
Web Desk

Inflation in Pakistan at highest levels in 70 years: report

By
Web Desk
File photo
File photo

  • Inflation has increased to historic levels in the last three years.
  • Government data shows electricity rates have increased by 57% from Rs4.06 per unit to at least Rs6.38 per unit.
  • Highest increase in prices of food items seen in prices of edible ghee and oil.


KARACHI: Inflation has reached its highest levels in 70 years during the three-year tenure of the PTI government, with food prices doubling, while the prices of ghee, oil, sugar, flour and poultry have reached historic levels, The News reported Tuesday.

According to the Federal Bureau of Statistics (FBS), from October 2018 to October 2021, electricity rates increased by 57% from Rs4.06 per unit to at least Rs6.38 per unit.

By the first quarter of October, the price of an 11.67 kg cylinder of LPG had gone up by 51% from Rs1,536 to Rs2,322. Similarly, the price of petrol had gone up by 49% in three years from Rs93.80 per litre to Rs138.73 per litre.

The highest increase in prices of food items was seen in the prices of edible ghee and oil. The price of ghee increased by 108% to Rs356 per kg.

The report added that the price of sugar has increased by 83% in three years and the price of sugar sold at Rs54 per kg exceeded Rs100. The prices of pulses, the FBS said, have increased by 60 to 76%; mash pulse by Rs243, peanuts by Rs162, lentils by Rs180 per kg and gram pulses by 23% to Rs145 per kg.

The price of a 20 kg bag of flour has gone up by 52% to Rs1,196 in three years. The price of flour has gone up by Rs20 per kg.

It further said that the price of chicken remained at Rs252 per kg from October 2018 to October 2021, however, chicken meat is being sold at Rs400 per kg in the markets.

According to official records, the price of beef has gone up by 48% to Rs560 per kg in three years. However, beef is being sold at Rs650 per kg in the markets. The price of mutton has gone up by 43% in three years to Rs1,133 per kg.

In these three years, open milk's price has risen by 32% to Rs112 per litre, while in Karachi, open milk is being sold at Rs130 per litre.

The price of rice has gone up by an average of 30%, plain double bread has gone up by 44% and a 190-gram packet of tea leaves has gone up by 27% to Rs 248. During this period, the cost of chicken eggs also increased by 47% to Rs170 per dozen.