Food prices surge for third consecutive year in Pakistan; sugar price shot up 22 per cent

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Karachi [Pakistan], October 26 (ANI): Food prices that began to surge in 2018 continues to shoot higher even in 2021 in Pakistan.

The rise in the price of per kilo vegetable ghee has been 27 per cent consecutively for the last three years. The price of cooking oil has shot up to 23pc, Sugar to 22pc and pulse to 21pc since October 2018. The rise in the flour price each year since 2018 has been 15pc, according to Dawn.
The newspaper reported that the food inflation of Pakistan has remained in the double digits for the last two years barring a couple of months.

Executive Director of the Sustainable Development Policy Institute, Abid Qaiyum Suleri credited the high cost of imported fuels in the international market for the rise in prices in the country.

“Food prices tend to go up as soon as the rates of petroleum products increase,” Dawn quoted Suleri as saying.

The last three years have seen the rise in petrol and diesel prices by 14pc and 8pc respectively. There has been a rise in the per-unit rate of electricity by 16pc per annum during this period.

“The second most important trigger is the flour price. People use it as a benchmark. Any increase in the flour rate automatically leads to a jump in food prices across the board,” Dawn quoted Suleri as saying.

The food items like cooking oil, sugar and chicken have witnessed a rise in price to 88pc, 83pc and 60pc respectively, reported Dawn. (ANI)

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