Pakistan : Sugar hits Rs200/kg even as inflation slows
Pakistan’s weekly inflation fell 1.23% year-on-year for the sixth straight week, per PBS. However, prices rose 0.95% week-on-week, with chicken up 22.6%, tomatoes 13.45%, and sugar reaching Rs188.4/kg. The government issued a tender to import 500,000 tonnes of sugar to stabilize supply. Despite relief in some items, sugar, pulses, and poultry remain costlier than last year.
ISLAMABAD: Pakistan’s weekly inflation eased for the sixth consecutive week, registering a year-on-year (YoY) decline of 1.23 per cent for the seven-day period ending July 10, according to the Pakistan Bureau of Statistics (PBS)– offering a rare relief for consumers after last year’s price shocks.
However, the weekly Sensitive Price Index (SPI), which monitors 51 essential household items, showed a 0.95 per cent increase week-on-week (WoW), with a sharp surge in key food prices. Live chicken prices jumped 22.6 per cent, tomatoes rose 13.45 per cent, and onions climbed 6.25 per cent.
The price of sugar rose by Rs3.48 per kilogramme over the previous week to Rs188.4 per kilogramme. Compared to the same week last year, the price increased by Rs42.52 per kilogramme from Rs145.88.
According to the PBS, sugar has become even more expensive across the country, with prices reaching up to Rs200 per kilogramme in Karachi, Islamabad and Rawalpindi, Rs36 higher than the government-set price of Rs164 per kilogramme, Geo.tv reported.
Meanwhile, the government has issued the first formal tender for the import of 500,000 metric tonnes of sugar.According to PBS data, the average price of sugar in the country has reached Rs188.44 per kg, reflecting a week-on-week (WoW) increase of Rs3.52. Last week, the average price was Rs184.92 per kg. The PBS noted that a year ago, the average price of sugar was Rs145.88 per kg.
Separately, the federal government has formally initiated the process to import 500,000 metric tonnes of sugar. The Trading Corporation of Pakistan has issued the first tender for the import of 300,000 tonnes, inviting sealed bids from international suppliers/manufacturers by July 18, Geo reported.
Out of the 51 items tracked, prices of 19 increased, six declined, and 26 remained stable. Major weekly drops were seen in LPG prices (down 2.56 per cent) and mustard oil (0.81 per cent).
On an annual basis, some items provided significant relief. Onion prices plunged 60 per cent, tomatoes by 45.7 per cent, and electricity charges for Q1 fell 37.6 per cent. Other notable drops included garlic (22.8 per cent), wheat flour (22.2 per cent), and pulse mash (20.46 per cent).
Still, many items recorded steep year-on-year increases. Ladies’ sandals surged 55.6 per cent, followed by sugar (29.27 per cent), moong pulse (18.9 per cent), beef (14.7 per cent), and chicken (13.77 per cent).
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Source : The News International
