Pakistan has massively increased petroleum prices up to 103 per cent during past one year, according to official statistics released on Friday.
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Pakistan inflation likely to surge by 34.5% in March 2023
Pakistan inflation likely to surge by 34.5 per cent in March 2023 as against 12.7 per cent same month last year.
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Sensitive Price Inflation climbs by around 47%: PBS
ISLAMABAD: Inflation based on sensitive price indicator (SPI) has climbed up by around 47 per cent year on year (YoY) week ended March 22, 2023, Pakistan Bureau of Statistics (PBS) said on Friday.
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Pakistan’s SPI inflation hits 42.27% YoY by week ended March 9
ISLAMABAD: Pakistan’s inflation based on Sensitive Price Indicator (SPI) recorded an increase of 42.27 per cent year on year (YoY) by week ended March 9, 2023.
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Prices of diesel, petrol jump by 93.82% and 77.89% in latest inflation numbers
ISLAMABAD: The prices of diesel and petrol have recorded an increase of 93.82 per cent and 77.89 per cent, respectively in the latest inflation numbers.
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Prices of essential items soar by 38.42pc in Pakistan
ISLAMABAD: Prices of essential items have soared by 38.42 per cent by week ended February 16, 2023 on year on year (YoY) basis, official data revealed on Friday.
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Expected sales tax on petroleum products to further inflate consumer prices
The government may impose sales tax on petroleum products in coming days which would massively increase prices of consumer products.
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Unilever Pakistan forecasts erosion in consumer purchasing power
KARACHI: Unilever Pakistan Foods Limited – fast-moving consumer goods company – on Monday said that high inflation to erode purchasing power of consumers.
While presenting financial results for nine months period ended September 30, 2022, the company said Pakistan’s economic and operating environment remains challenging as the country continues to grapple with sustained double-digit inflation, low foreign exchange reserves and aftermath of recent floods.
“The above factors are expected to result in a considerable overall economic slowdown and further erosion of purchasing power of the consumers.”
It said that in the midst of the situation, the management remains committed to navigating the challenges and staying relevant to the consumer by leveraging the power of its brands, delivering delightful innovations and driving cost transformation. “We are confident that we will continue to deliver competitive, consistent, responsible and profitable growth benefitting all stakeholders,” the company added.
The board of directors of the company met on October 24, 2022 and approved the un-audited condenses interim financial information for the nine months ended September 30, 2022.
According to the company, despite challenging economic and political environment, the business continued its positive momentum and delivered a growth of 36.6 per cent with a healthy mix of pricing and volume.
The growth was broad based with both retail and food solution business delivering consistent performance on the back of strong brand equity, innovations and wider distribution.
“Inflationary headwinds resulted in a gross margin dilution of 202 basis points to 41.4 per cent. However, earnings per share grew by 33.3 per cent led by strong topline growth,” the company added.
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Essential items witness inflation above 42%: Pakistan Bureau
ISLAMABAD: Pakistan Bureau of Statistics (PBS) on Friday disclosed that prices of essential items have recorded inflation above 42 per cent on year on year (YoY) basis by week ended August 18, 2022.
The bureau stated that Sensitive Price Indicator (SPI) of essential items depicts an increase of 42.31 per cent.
READ MORE: High inflation may force further monetary tightening
The essential items that recorded increase in prices during this period are included: Pulse Masoor (111.02 per cent), Diesel (108.77 per cent), Petrol (94.53 per cent), Onions (94.43 per cent), Cooking Oil 5 litre (72.96 per cent), Mustard Oil (71.08 per cent), Chicken (69.04 per cent), Vegetable Ghee 1 Kg (68.56 per cent), Vegetable Ghee 2.5 Kg (67.05 per cent), Electricity for Q1 (63.03 per cent), Washing Soap (61.92 per cent), Pulse Gram (58.93 per cent), Gents Sponge Chappal (52.21 per cent), Pulse Mash (51.51 per cent) and Garlic (36.59 per cent).
While a decrease observed in the prices of Chilies Powder (43.42 per cent), Sugar (16.55 per cent) and Gur (1.96 per cent).
READ MORE: Pakistan inflation hits 14-year high at 25% in July
The SPI for the week ended on August 18, 2022 recorded an increase of 3.35 per cent.
Increase is observed in the prices of food items, Tomatoes (20.28 per cent), Chicken (7.57 per cent), Onions (2.30 per cent), Powdered Milk (2.03 per cent), Eggs (1.63 per cent), Pulse Moong (1.42 per cent) and Potatoes (1.07 per cent), non-food items, Electricity for Q1 (6.83 per cent), Petrol (2.96 per cent) and Cigarette (1.69 per cent).
On the other hand, a decrease observed in the prices of LPG (3.46 per cent), Vegetable Ghee 1Kg (1.16 per cent), Garlic (0.94 per cent), Mustard Oil (0.71 per cent), Pulse Masoor (0.42 per cent), Pulse Gram (0.36 per cent), Vegetable Ghee 2.5Kg (0.33 per cent), Cooking Oil 5 litre (0.31 per cent), Diesel (0.18 per cent), Firewood Whole (0.16 per cent) and Sugar (0.03 per cent).
READ MORE: Pakistan hikes key policy rate by 125 basis points to 15%
During the week, out of 51 items, prices of 25 (49.01 per cent) items increased, 11 (21.57 per cent) items decreased and 15 (29.42 per cent) items remained stable.
The SPI is computed on weekly basis to assess the price movements of essential commodities at shorter interval of time so as to review the price situation in the country. SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country.
READ MORE: Pakistan’s sensitive price inflation surges by 37.67%
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High inflation may force further monetary tightening
The relentless surge in inflationary pressures may prompt the State Bank of Pakistan (SBP) to consider additional measures to tighten the monetary stance, as the central bank has already elevated the policy rate to 15 percent.
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