According to the Federal Bureau of Statistics’ most recent data, Pakistan’s inflation rate has risen to a remarkable 32.73%, representing a massive 1.27% increase in just one week.
The report reveals a disturbing trend in which prices for vital products such as onions, eggs, tea, potatoes, and garlic have risen. Even basic essentials such as gas have become more expensive, increasing the financial pressure on people.
The prices of 14 vital commodities increased, including onion, eggs, tea, potato, garlic, meat, dal mung, banana, and gas. In contrast, prices for 12 products fell, making tomatoes, dal mash, lentils, cooking oil, ghee, bread, jaggery, and LPG more cheap.
On a yearly basis, raw material prices increased by 167%, while red chile, flour, sugar, jaggery, and garlic all saw significant rises. However, ghee and cooking oil costs fell from the previous year.
The analysis also reveals a consistent rise in inflation rates over time, with February 2024 showing a 23% inflation rate compared to 26% in February 2023. The average inflation rate for the current fiscal year has topped 28 percent, with urban areas experiencing 24.9 percent and rural areas seeing 20.5 percent.
