Islamabad (LTN NEWS): The Sensitive Price Index (SPI), which measures inflation, went up by 3.68 percent from the previous week. This was mostly because food prices went up by the most they ever have, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.
Since the base year was changed, this week’s rise in inflation is the biggest one yet. On June 17, the SPI went up by 3.38pc, which was the second highest rise. In the week under review, the SPI rose by 37.67% from the same time last year, which was the most ever.
The government raised the prices of gasoline and diesel by a lot, which also caused food prices to go up
As crops are damaged by rain, food prices will go up even more.
According to data from PBS, the prices of 30 essential food items went up in the past week compared to the week before.
Tomatoes went up 17.53 percent, pulse masoor 4.18 percent, pulse mash 2.87 percent, pulse gram 2.46 percent, pulse moong 2.02 percent, vegetable ghee 2.5 kg 1.80 percent, garlic 1.69 percent, and broken basmati rice 1.21 percent. Electricity went up 26.11 percent, LPG went up 7.02 percent, washing soap went up 2.34 percent, and energy saver went up 1.03 percent.
The SPI went up by 3.27 percent for people who make less than Rs17,732 per month and by 3.54 percent for people who make more than Rs44,175 per month.
Diesel prices went up by 101.53 percent from one year to the next, pulse masoor by 99.14 percent, gasoline by 94.15 percent, chicken by 75.65 percent, cooking oil by 74.81 percent, mustard oil by 72.45 percent, onions by 64.18 percent, washing soap by 62.46 percent, pulse gram by 55.28 percent, electricity by 52.61 percent, gents sponge chappal by 52.21 percent, garlic by 45.18 percent, and pulse
Shiekh Rasheed sent out a tweet about this:
He said that everyone needs to sit down together, or else people will make their own decisions.
Sheikh Rasheed said that the rate of inflation has gone up to 38%, which is too high for the poor to pay. If the International Monetary Fund (IMF) bailout package doesn’t come soon, Pakistan could go bankrupt.
