Pakistan's inflation rate continued its downward trend, dipping 1.06% in the latest week. This brings the annual inflation rate to 21.22%. The Federal Statistics Agency's weekly report highlights price fluctuations across essential commodities. While 16 items, including wheat flour, tomato, onion, garlic, petrol, and diesel, witnessed price drops, 20 items like eggs and meat saw increases. The prices of 15 other items remained stable. The report details significant price reductions for vegetables like tomato (down 27 rupees/kg), onion (down 27+ rupees/kg), and garlic (down 46 rupees/kg). Additionally, the cost of wheat flour, banana, rice, red chili, and lentils decreased. Prices for fuel products like petrol, diesel, and LPG also showed a decline. However, the news isn't all positive. The cost of potatoes, beef, mutton, pulses, eggs, chicken, cloth, and wood increased.

For instance, potatoes rose by 1.28 rupees/kg, while beef and mutton prices jumped by 10 and 20 rupees/kg, respectively. Pulses and eggs saw a 3 rupees/kg increase, and eggs went up by 2 rupees per dozen. The report also provides a year-on-year comparison. While some essential items, like wheat flour, chicken, ghee, cooking oil, and LPG, became cheaper compared to last year, others witnessed substantial price hikes. Onions saw an 88% increase, red chilies rose by 70%, garlic by 62%, tomatoes by 36%, and salt by 33%. Annual price increases were also observed for beef (24%), moong dal (22%), and sugar (21%). Notably, gas charges have skyrocketed by a staggering 570% year-on-year. The data suggests a potential easing of inflation, but concerns remain regarding uneven price fluctuations in essential food items.

Credit: Independent News Pakistan