Rise in edible oil, flour prices fuels weekly inflation
ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), rose by 9.29 per cent year-on-year for the week ending Aug 4, mainly due to rising prices of edible oil and wheat flour, according to official data released on Friday. Short-term inflation has steadily risen, mainly driven by a sustained increase in daily petroleum prices over the past week, which has increased…
Short-term inflation in Pakistan rose by 9.29% year-on-year for the week ending Aug 4, primarily due to increasing prices of edible oil and wheat flour, according to official data. This rise in short-term inflation has been attributed to the sustained increase in daily petroleum prices, which has led to higher transportation costs and subsequently impacted the prices of essential food items.
Additionally, the National Price Monitoring Committee, chaired by Planning Minister Ahsan Iqbal, reviewed inflation trends and reported a deceleration in monthly inflation. In response to the rising incidences of cardiovascular diseases and other non-communicable illnesses, particularly among younger Pakistanis, the minister has directed a nationwide survey of loose edible oil, ghee, and milk.
The Ministry of Science and Technology presented a quality assessment report, revealing that 36% of packaged food samples failed to meet the prescribed national quality standards.
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