Pakistan Witnesses Highest Inflation First Ever In 70 Years


Pakistan witnesses highest inflation first ever in 70 years

The latest reports say that essential commodities like ghee, oil, flour and vegetables have gone out of reach of the common man during last three years.

KARACHI: (UrduPoint/Pakistan Point News-Oct 26th, 2021) Pakistan is witnessing the highest level of inflation for the first in 70 years, the reports revealed on Sunday.

The prices of essential commodities including ghee, oil, flour and poultry touched the historic high during the three years of PTI-led government.

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

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

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

They revealed that sugar price jumped by 83% in three years and the price of sugar sold at Rs54 per kg exceeded Rs100. Pulses price 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.

On other hand, the price of a 20 kg bag of flour went up by 52% to Rs1,196 in three years while the price of flour went up by Rs20 per kg.

Chicken price, they revealed, was now Rs 400 per kg in the market while it was Rs Rs252 per kg from October 2018 to October 2021.

Similarly, the price of beef went up by 48% to Rs560 per kg in three years and now is being sold at Rs650 per kg in the markets while mutton went up by 43% to Rs1,133 per kg during last three years.

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.

Open milk's price went up by 32% to Rs112 per litre, while in Karachi, open milk is being sold at Rs130 per litre. In many places in Lahore, the open milk is being sold against Rs 120 to Rs 130.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.