In Pakistan, the current inflation rate has reached an unprecedented peak, marking the highest level ever recorded in the nation’s history. A comparison between the prices of food items from a year ago and their current prices illustrates a substantial surge in costs.
In detail, the escalation in inflation in Pakistan is unparalleled within the span of fifty years. Necessities like flour, pulses, rice, sugar, ghee, and cooking oil have experienced an astronomical surge in their prices, pushing them to remarkably elevated levels.
When evaluating the prices of food items from a year ago, it becomes evident that there has been an astonishing increase of two hundred percent in the prices of essential commodities such as flour, rice, pulses, cooking oil, ghee, meat, and poultry.
Over the course of fifteen months, the cost of ghee has skyrocketed from Rs. 200 to Rs. 550 per kilogram, while the price of edible oil has surged by Rs. 200, now standing at Rs. 600 per liter.
During April 2022, the cost of dal mash stood at Rs. 248, but it has since risen to Rs. 252, resulting in an increase to Rs. 500 per kilogram. Similarly, chickpeas, which were priced at Rs. 158, have undergone an upward shift to Rs. 220 per kilogram, marking an escalation of Rs. 62.
In the same timeframe, black gram was priced at Rs. 150 per kilogram in 2022, yet it has witnessed a substantial rise of Rs. 60, now being valued at Rs. 220 per kilogram. Basmati rice, which was previously obtainable at Rs. 200 per kilogram, has experienced a significant surge of Rs. 175, now costing Rs. 375 per kilogram as of August 2023.
The price of sugar was originally 80 rupees per kilogram, but it has surged by 70 rupees to reach 150 rupees per kilogram. Meanwhile, tea leaf, which was priced at 1,000 rupees per kilogram in April 2022, has seen an increase of 400 rupees, leading to a new price of 1,400 rupees per kilogram.
Market analysts point out that prevailing uncertainty is exerting a notable impact on the market dynamics. Despite achieving record harvests of wheat, sugar, and rice within the country, the costs of all these commodities have escalated.
Expert assessments indicate that the prices of imported essentials like edible oil, ghee, and pulses are persistently on the rise. This upward trajectory can be attributed to the appreciating value of the dollar in the market.
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