Pakistan’s Annual Inflation Drops to 3.71% Despite Weekly Price Increases

ISLAMABAD: Pakistan’s annual inflation rate has decreased to 3.71%, according to the latest report from the Pakistan Bureau of Statistics. This marks a slight improvement compared to the previous year, though there was a small weekly increase of 0.07% in the prices of essential goods.

The report highlights that during the past week, the prices of 18 essential commodities rose, 11 saw price reductions, and 24 items remained stable. Among the items that became more expensive were live broiler chicken (up 3.80%), ghee (up 2.27%), bananas (up 2%), potatoes (up 1.93%), and cooking oil (up 1%). Other items, including energy savers, laundry detergent, LPG, and cigarettes, also saw price hikes.

However, several essential items experienced price drops, including onions (down 3.58%), tomatoes (down 3.10%), eggs (down 2.14%), garlic (down 1.58%), and gram flour (down 1.19%). Other items like rice, daal maash, wheat flour, and firewood also became cheaper.

On an annual basis, some commodities experienced notable price increases. Daal channa saw a 60% rise, while daal moong and potatoes became 36% more expensive. Other items such as dry milk, beef, tomatoes, garlic, shoes, and gas charges also contributed to inflationary pressure. Clothes and firewood prices also saw significant increases of 14.54% and 12%, respectively.

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On a positive note, several items became cheaper over the year. Wheat flour prices dropped by 36%, red chilies by 20%, and lentils by 10.26%. Additionally, onion prices decreased by 9%, rice by 7.46%, sugar by 6.52%, bread by 6%, and tea by 5%. Diesel and petrol prices fell by 10.77% and 10.33%, respectively.

The report also mentioned a 6.96% reduction in electricity tariffs for low-income households, providing some relief amidst the fluctuating prices of other essential goods.