During the past week, the current government witnessed a significant surge in the inflation rate, marking a record increase in the weekly inflation rate by 1.35 percent. According to details, the weekly inflation rate soared to a level of 32.89 percent, as reported by the Bureau of Statistics, which released the inflation figures based on weekly data.
The Bureau of Statistics revealed that during the past week, prices of 18 essential commodities witnessed an increase, while prices of 10 items recorded a decline. Notably, the price of tomatoes per kilogram surged up to 30 rupees during the week, indicating a substantial rise in vegetable prices.
Moreover, bananas became more expensive, reaching up to 34 rupees per dozen during the past week. Similarly, the price of eggs per dozen increased to 19 rupees, highlighting the overall increase in food prices.
Furthermore, household items also experienced a surge in prices during the past week. The price of an LPG cylinder rose to 146 rupees and 71 paise, while the price of garlic per kilogram increased by up to 22 rupees. Additionally, the price of mutton, beef, and chicken saw significant hikes, reaching up to 31 rupees, 14 rupees, and 6 rupees per kilogram, respectively.
On the other hand, certain items witnessed a decline in prices, providing some relief to consumers. For instance, branded cooking oil became cheaper, with a five-liter pack priced at 29 rupees. Similarly, branded ghee per kilogram decreased to 14 rupees, while a 20-kilogram bag of wheat flour became cheaper, priced at 26 rupees.
The Bureau of Statistics also reported a decrease in the price of sugar per kilogram by 93 paise, indicating a slight alleviation in the prices of certain commodities. Despite this, stability remained elusive in the prices of 23 items during the past week.
The sharp increase in the weekly inflation rate underscores the challenges faced by the government in managing price stability and affordability for consumers. It also highlights the urgent need for comprehensive measures to address the underlying factors contributing to inflation, including supply chain disruptions, energy prices, and global economic conditions.
The record increase in the weekly inflation rate in Lahore reflects the broader economic challenges confronting the government. Addressing these challenges will require concerted efforts to stabilize prices, enhance food security, and promote sustainable economic growth.
