Year-on-year inflation in the month of March increased to 42.27%, a report by the Pakistan Bureau of Statistics said on Friday.

The Sensitive Price Index, witnessed an increase of 1.37 on a weekly basis for the week ended on March 10, the report said.

The week-on-week inflation is up by 1.37pc. Of the 51 items tracked, the prices of 29 items increased, eight items decreased, whereas those of 14 items remained stable. The price of tomatoes increased by Rs5.46/kg, and potato price shoots up by Rs5.10/kg. Onion prices witnessed a raise of Rs12.32/kg during the last week. The price of sugar also increased by Rs5.35 per kg, according to the PBS report.

Furthermore, flour, ghee, milk, pulses, beef, tea, salt and other commodities prices also recorded a surge. However, it also noted a decrease in the prices of chicken, eggs, and some pulses.The upward trend of inflation continues as Islamabad was taking measures to get the $1.1 billion IMF tranche under the Extended Fund Facility.

The federal government had also approved a mini-budget, imposing additional taxes worth Rs170 billion to boost revenue generation in line with the preconditions of the IMF.

Electricity prices increase

The National Electric Power Regulatory Authority approved an increase in electircity prices to cover deferred payments.

Consumers will have to play upto Rs14.24 per unit in extra costs, while K-Electric consumers will have to pay up to Rs13.87.

Protected consumers using less than 200 units will pay between 89 pasias and Rs2. Non protected consumers up to 300 units will pay between 75 paisas to Rs2.75. Farmers will pay between 50 paisas and Rs per unit.

The additional costs will be covered in eight months of the current year.