Food prices soar in Ramzaan as Pakistan reels under economic crisis
1 min read 27 Mar 2023, 05:51 PM ISTThe cost of sweet oranges has surged to PKR 440 per dozen, while oranges are being sold for PKR 400 per dozen.
PremiumAs per a vendor's statement, there has been a significant increase in the prices of chicken and rice in Pakistan.
The cost of chicken has surged to PKR 350 per kilogram, while the cost of rice has gone up by PKR 70 per kilogram, reaching PKR 335 per kilogram.
This price hike has put an additional financial burden on the people of Pakistan.
The cost of sweet oranges has surged to PKR 440 per dozen, while oranges are being sold for PKR 400 per dozen. Bananas are now priced at PKR 300 per dozen, pomegranates at PKR 400, Iranian apples at PKR 340 per kilogram, Kohati guava at PKR 350, and strawberries at PKR 280 per kilogram.
The rising food prices in Pakistan have not spared the meat market either. The cost of beef has increased significantly, with the price previously set at PKR 700 per kilogram, but now ranging between PKR 800 to PKR 1,000 per kilogram.
Similarly, mutton rates have also surged from PKR 1,400 per kilogram to PKR 1,600 per kilogram, and have eventually reached an all-time high of PKR 1,800 per kilogram.
The increasing food inflation in Pakistan has had a significant impact on the country's population, especially this year.
According to Pakistan Bureau of Statistics (PBS) data, of the 51 items tracked, the prices of 26 items increased, 13 items decreased, whereas those of 13 items remained unchanged.
Items that have recorded a price high are onions (228.28%), cigarettes (165.88%), wheat flour (120.66%), gas charges for Q1 (108.38%), diesel (102.84%), tea lipton (94.60%), bananas (89.84%), rice basmati broken (81.22%), petrol (81.17%), eggs (79.56%), etc., as per a report published by pkrevenue.
Currently, Pakistan is struggling with a significant shortage of foreign exchange to sustain its balance of payments due to the ongoing economic crisis and IMF loan delay.
