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Flour prices hit all-time high in Pakistan

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2 years ago

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  • 20-kg flour bag being sold at Rs2,400 in Karachi and Quetta.
  • In Hyderabad, a 20kg flour bag is being sold at Rs2260.
  • Price of 20Kg flour bag is up to Rs980 in major cities of Punjab.

Prices of flour have reached an all-time high in the country as a 20-kg flour bag is being sold at Rs2400 in Karachi and Quetta, said the Pakistan Bureau of Statistics (PBS).

According to the data released by the PBS, in Quetta with an increase of Rs480 per 20Kg during the last 15 days, flour is being sold at Rs120/Kg, while in Karachi price per 20/Kg flour bag has risen to Rs260 in the last 15 days.

As per data, in Hyderabad, a 20kg flour bag is being sold at Rs2260, while in Larkana the price of 20Kg flour bag has been set at Rs2100.

Similarly, the price of 20Kg flour bag has reached Rs2,040 in Sukkur and 2,200 in Khuzdar.

PBS stats show that the price of 20Kg flour bag is up to Rs980 in major cities of Punjab, while in Islamabad, the 20 kg flour bag is of the same price.

‘Inflation rate dropped to 0.19%’

A day earlier, The Pakistan Bureau of Statistics (PBS), however, reported that the SPI-based inflation rate dropped to 0.19% during the week ended September 15 compared to last week.

Data released by the Pakistan Bureau of Statistics (PBS) showed that the average prices of 10 essential items, onions, tomatoes, bananas and other items declined during the outgoing week.

Prices of 30 items, including tea, eggs have rose. Meanwhile, the rates for 11 essential goods remained unchanged.

The combined income group index went down from 225.67 points during the week that ended on September 8 to 224.98 points in the week under review.

On weekly basis prices of following essential items rose:

Food items:

  • Tea Lipton 190 gram — 6.30%
  • Pulse Moong (washed) — 3.46%
  • Eggs — 2.54%
  • Pulse Gram — 2.53%
  • Eggs — 3.84%
  • Cooked beef — 2.53%
  • Wheat flour — 1.96%
  • Bread — 1.45%

On weekly basis prices of following essential items decreased:

Food items:

  • Onions — -16.24%
  • Tomatoes — -9.84%
  • Bananas — -2.5%
  • Chicken — -1.88%
  • Sugar — -0.95%
  • Vegatable Ghee (1kg) — -0.39%
  • Potatoes — 0.33%

Non-food items:

  • LPG — -2.62%

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Business

In interbank trade, the Pakistani rupee beats the US dollar.

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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7 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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