Life becomes miserable as Pak inflation hits 13-yr high

Such a drastic change in CPI was last seen in December 2008 when year-on-year inflation stood at 23.3 per cent…reports Asian Lite News

Around a hundred essential items, ranging from flour to fuel and from housing to health care, have collectively become 21.3 per cent expensive for Pakistanis in one year, according to CPI data compiled and released by the Pakistan Bureau of Statistics.

Consumer Price Index (CPI) shows that June 2022 proved the most expensive month in the past 13 years, Samaa TV reported.

In June, inflation rose 21.32 per cent compared to June 2021 (year-on-year increase) and 6.32 per cent compared to the previous month (month-on-month increase).

Such a drastic change in CPI was last seen in December 2008 when year-on-year inflation stood at 23.3 per cent.

Items under 10 of 12 grouped registered a double-digit increase in prices with transport becoming 62 per cent expensive and food and beverages costing 25.92 per cent more, Samaa TV reported.

Items under the ‘Housing, Water, Electricity, Gas and Fuels’ category have become 13.48 per cent more expensive. Furnishing and household equipment now cost 18.76 per cent more than in June 2021.

Even health care has become 11.30 per cent more expensive while the prices of clothing and footwear rose 13.72 per cent.

Education and communication costs registered a modest increase of 9.49 per cent and 1.96 per cent, respectively. These are the only two groups with single-digit inflation.

The rural population has been hit a bit more strongly compared to the urban population with CPI Rural inflation standing at 23.6 per cent and CPI Urban inflation at 19.8 per cent.

A closer examination of the CPI data reveals how life has become difficult for the common man.

The staple food items including flour and pulses have become 16 per cent to 74 per cent more expensive.

Edible oil and ghee now cost up to 80 per cent more than in June 2021. Only the sugar and moong pulse prices decreased.

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