Cooking oil and ghee prices drop in Pakistan

In the latest weekly report released by the Pakistan Bureau of Statistics, a mixed trend was observed in the prices of essential items, reflecting the ongoing fluctuations in the country’s economy.

Over the week ending March 14, there was a noticeable decrease in the prices of 10 essential daily-use items, while the prices of 23 items remained stable.

However, the prices of 18 items increased, contributing to a 1.35% rise in overall essential item prices weekly. Annually, this marked a substantial 32% increase, with a modest 0.89% increase recorded over the previous week.

Among the notable increases were cooking oil by 1.08%, Banaspati ghee by 1.07%, flour by 0.95%, and sugar by 0.64%. Conversely, certain items experienced price drops, such as lentils, by 0.17%.

However, the price surge was evident in commodities like tomatoes by 21.96%, bananas by 21.76%, and eggs by 7.15%.

These price fluctuations impacted various income groups differently, as reflected in the Consumer Price Sensitive Index.

For instance, while the index increased by 0.91% for those with the lowest monthly income, it decreased for higher income brackets, ranging from 0.86% to 1.55%.

The Consumer Price Sensitive Index, derived from changes in the prices of 51 essential commodities across 17 major cities, is a vital indicator of inflationary pressures on consumers.

As the country navigates these economic dynamics, policymakers and consumers alike remain vigilant about managing the impact of price fluctuations on household budgets and overall economic stability.

Also Read

Global crude oil prices fall in market

Crude oil prices have recently witnessed a dip in the worldwide market,...