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Sunday, June 16, 2024  
09 Dhul-Hijjah 1445  

Cost of essential items on the rise amid hiked petroleum prices

Petrol price is at a record-high of Rs331.38 per litre
People buy vegetables at a local market in Lahore on August 29, 2022 — AFP/File
People buy vegetables at a local market in Lahore on August 29, 2022 — AFP/File

Amid a hike in petroleum products prices, the Sensitive Price Index (SPI) recorded a significant rise of 38.67% during the week ended on September 21, compared with the corresponding week of last year.

On a week-on-week basis, the SPI increased by 0.93% during the week under review, data from the Pakistan Bureau of Statistics showed.

During the week under review, a major increase was observed in the prices of food items as the price of chicken was up by 8.49%, garlic by 5.19%, and onions by 3.02%. Petrol price rose by 8.51%, diesel by 5.54%, shirting 1.81% and matchbox was up by 1.42% on a weekly basis.

On a yearly basis, electricity charges were up by 118.16%, gas charges by 108.38%, cigarettes 94.69%, basmati rice broken by 88.43%, chilies powder by 84.84%, and sugar 81.98%.

The price of wheat flour increased by 73.70%, gur by 72.86%, tea Lipton by 65.28%, salt powdered by 56.48%, powdered milk by 43.33% and Garlic price was up by 43.10%.

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On September 16, the caretaker government increased petrol price by Rs26.02 per litre and high-speed diesel by Rs17.34.

“Owning to the increasing trend of petroleum prices in the international market, the government has decided to revise the existing consumer prices of petroleum prices,” said a finance ministry press release.

After the massive hike, the new rate of petrol is Rs331.38. The price of high-speed diesel now stands at Rs329.18.

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