Pakistan economy devastated by rising inflation amid shortage of food, essential items

Pakistan Economy: Pakistan's economic crisis shows no signs of ending. Despite assistance from the IMF, the World Bank, and numerous friendly countries, there is no relief from inflation for the general public of Pakistan. 

According to reports, weekly inflation in cash-strapped Pakistan continues to rise, marking the 23rd consecutive week of increase. The surge in prices of everything from chicken and rice to wheat and cooking oil shows no sign of abating.

What is the economic situation in Pakistan?

According to a recent report by Pakistani media outlet Dawn, the Sensitive Price Index (SPI)-based short-term inflation rate in Pakistan increased by 3.20% year-on-year in the week ending January 8, due to a rise in retail prices of wheat flour, sugar, rice, chicken, and other items. SPI-based inflation has been continuously increasing for the past 23 weeks. According to official data released last Friday, it continues to rise week after week.

Which essential items have seen biggest price rise?

The report states that the extraordinary increase in retail prices of items ranging from sugar to chicken has played a significant role in driving up inflation in recent weeks. The items that saw the highest price increases compared to the previous week include wheat flour (5.07%), chicken (2.86%), garlic (2.44%), chili powder (1.01%), LPG (0.88%), tea (0.73%), sugar (0.58%), bread (0.51%), Basmati rice (0.41%), and firewood (0.25%). 

According to reports in the Pakistani media, the items in Pakistan that have seen the biggest price increases on an annual basis include wheat flour (31.12%), gas prices for the first quarter (29.85%), chili powder (11.43%), sugar (11.18%), bananas and firewood (10.57%), jaggery (10.50%), powdered milk (9.51%), and eggs (8.03%), among others. It was reported that the prices of approximately 21 essential and everyday items increased in the week ending January 8th compared to the previous week, while the prices of 22 items remained stable.

What is the price of chicken in Pakistan?

Due to inflation in Pakistan, everyday items like chicken and rice are becoming unaffordable for ordinary people. According to the prices updated on the Livingcost.Org website, the price of 1 kg of chicken breast in Pakistan is $2.99 (approximately 840 Pakistani Rupees), while the price of rice is $1.12 (approximately 320 PKR). In addition, 1 liter of milk costs $0.78 (219 PKR), a 500-gram packet of bread costs 163 Pakistani Rupees, 12 eggs cost 317 Pakistani Rupees, tomatoes cost 140 PKR per kg, potatoes cost 95 PKR per kg, and onions cost 121 Pakistani Rupees per kg.

Regarding fruit prices, apples cost approximately 300 Pakistani Rupees per kg, while 1 kg of bananas costs 174 Pakistani Rupees. A kilogram of oranges costs 222 Pakistani Rupees. It should be noted that these food prices are based on the rates updated on the website and may be subject to some variation.