The celebration of Eid-ul-Fitr, a major Muslim festival, has been affected by the record high inflation rates in Pakistan.
The Pakistan Bureau of Statistics (PBS) has reported an increase in inflation based on the Sensitive Price Indicator (SPI) of 47.23% on a year-on-year basis by the week ending April 19, 2023. This has made it challenging for many Pakistanis to purchase the necessary items for the Eid celebrations.
The high prices of essential items have made it difficult for many families to afford new clothes, gifts, and food items during the festive season. The surge in prices has also had a severe impact on the purchasing power of Pakistanis, making it hard for them to make ends meet.
The PBS data shows that the prices of wheat flour increased by 144%, gas by 108%, tea by 104%, high-speed diesel by 103%, potatoes by 99%, bananas by 98%, and eggs by 99%. The prices of petrol, rice basmati broken, and rice irri have also surged by 88%, 87%, and 83.52%, respectively.
The inflation rates this year are significantly higher than last year, when the economic environment was better, and people were able to purchase necessary items at lower rates. This year, however, the economic situation has worsened, and inflation has hit an all-time high.
Many Pakistanis are cutting back on non-essential purchases and finding ways to save money on necessary items. This has led to a subdued atmosphere during the Eid celebrations, with many people unable to afford the usual festivities.
The government is being urged to take swift action to address the inflation rates by implementing economic policies that promote stability and growth. This may include measures to control prices, regulate the supply of goods, and create jobs to promote economic growth.
In conclusion, the record high inflation rates in Pakistan have affected the celebration of Eid-ul-Fitr. The government is being called upon to take action to address this issue and provide relief to the people by controlling prices and promoting economic stability.
FTO orders release of illegally detained iPhone-14 and laptops by customs officials
