The inflation Rise in the country has once again started to climb, causing concerns for citizens across all income brackets. In the recent week, the inflation rise by 0.38%, pushing the annual inflation rate from 3.71% to 4.64%.
Overview of Price Changes
During the week, prices of 15 essential items increased, while 13 items became cheaper, and 23 items remained stable, according to the Federal Bureau of Statistics.
The most significant impact of rising inflatio rise was observed in households earning between PKR 22,889 and PKR 29,517 per month, where the inflation rise by 4.83%.
Key Items with Price Increases
The report highlighted a sharp rise in the prices of certain essentials, including:
- Tomatoes: Up by a staggering 56.66%
- Garlic: Increased by 1.40%
- Sugar: Rose by 0.23%
- Mustard Oil: Up by 0.74%
- Cooking Oil: Increased by 0.79%
- LPG: Price surged by 0.71%
- Firewood: Up by 1.57%
- Ghee: Increased by 0.25%
Items with Price Decreases
Meanwhile, several items witnessed a price drop:
- Chickpea Lentils (Daal Chana): Down by 0.98%
- Onions: Reduced by 4.16%
- Potatoes: Decreased by 3.83%
- Eggs: Down by 2.72%
- Bananas: Reduced by 0.56%
- Diesel: Price dropped by 1.17%
Income Bracket Analysis
Inflation rates vary significantly based on income groups:
- Households earning up to PKR 17,732 per month saw a 0.68% increase, bringing their annual inflation rate to 4.79%.
- Those earning between PKR 17,733 and PKR 22,888 experienced a 0.60% rise, leading to an annual inflation rate of 4.70%.
- Families with an income of PKR 29,518 to PKR 44,175 faced a 0.41% increase, with their inflation rate at 4.53%.
- High-income households earning over PKR 44,176 saw a 0.30% increase, bringing their inflation rate to 4.61%.
Impact and Implications
The continuous rise in inflation is particularly challenging for middle-income families, who are already struggling to make ends meet. Essentials such as tomatoes, cooking oil, and sugar have become increasingly unaffordable, putting further strain on household budgets.
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In Short
- Consequently, prices for essential items have skyrocketed recently.
- Moreover, families with fixed incomes face increasing challenges.
- However, some essential commodities saw a slight decrease.
- Furthermore, rising inflation has impacted middle-income households the most.
- Meanwhile, luxury items remain unaffected by these price surges.
- Therefore, budget management has become more critical than ever.
- In contrast, certain food items experienced a noticeable drop in costs.
- Additionally, fuel price reductions provided slight relief to consumers.
- Nevertheless, overall household expenses continue to rise steadily.
- As a result, saving money has become increasingly difficult for many.