Weekly inflation falls 0.23 percent

shaukat tarin

ISLAMABAD: The Sensitive Price Index (SPI)-based weekly inflation for the combined group during the period ended October 22 recorded a decrease of 0.23pc due to a decline in prices of essential food items.

According to the Pakistan Bureau of Statistics (PBS), the weekly SPI is calculated on the basis of prices of 51 essential items collected from 50 markets in 17 cities of the country.

“This decrease was witnessed mainly due to a decline in prices of food items, including onions (-4.75pc), chicken (-1.49pc), wheat flour (-1.31pc), gur (-1.26pc), moong pulse (-1.03pc) and mash pulse (-0.02pc),” as per report compiled by the PBS.

Conversely, an increase of 1pc or more was observed in prices of tomatoes (+1.57pc), tea prepared (+1.43pc), and potatoes (+1.00pc).

During the week under review, the rate of 14 essential items went up while that of 11 commodities decreased, whereas prices of 26 food items remained unchanged.

Earlier, Prime Minister Imran Khan had ordered a nationwide crackdown against hoarders who are responsible for creating artificial inflation.

Chairing a meeting of the federal cabinet, the premier emphasized the need for keeping an eye on the demand and supply chain of food items and their prices. “I have been saying from day one that prices should be brought under control,” he said.

PM Imran also warned that action will be taken against officers who failed to take action against hoarders and profiteers. The prime minister said he wants the prices of essential commodities brought down at any cost.

The prime minister ordered to ensure complete prevention of wheat smuggling. He directed that comprehensive administrative measures should be taken to further improve inter-provincial coordination.

 

 

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