Islamabad November 25 2022: Onion prices increased the most 363 percent year on year to PKR 194.74 per kg for the week ended on 24th November according to data released by Pakistan Bureau of Statistics.
Onion crop destruction due to record floods and unprecedented monsoon season is the major reason behind this significant increase.
According to UNICEF, around 33 million people, including approximately 16 million children, have been affected by this year’s heavy monsoon rains in Pakistan, which have brought devastating rains, floods and landslides. Some major rivers breached their banks and dams overflowed, destroying homes, farms and critical infrastructure including roads, bridges, schools, hospitals and public health facilities.
The SPI for the current week ended on 24th November, 2022 recorded an increase of 0.48%.
During the week, major increase is observed in the prices of food items, Eggs (8.45%), Bananas (5.87%), Chicken (4.03%), Onions (2.35%), Tea Prepared (2.02%), Sugar (1.31%), Cooked Daal (1.07%) and non-food item, Firewood (1.76%).
On the other hand major decrease is observed in the prices of Pulse Gram (1.26%), Tomatoes (1.08%), Pulse Masoor (1.07%), Vegetable Ghee 2.5 Kg (0.59%), Wheat flour (0.40%), LPG (0.39%), Cooking Oil 5 litre (0.32%) and Pulse Moong & Pulse Mash (0.17%) each.
During the week, out of 51 items, prices of 19 (37.25%) items increased, 09 (17.65%) items decreased and 23 (45.10%) items remained stable.
The year on year trend depicts an increase of 30.16%, Onions (363.67%), Tomatoes (64.74%), Diesel (64.57%), Tea Lipton (60.64%), Pulse Gram (54.71%), Petrol (53.85%), Salt Powdered (53.26%), Bananas (52.70%), Gents Sponge Chappal (52.21%), Pulse Moong (50.45%), Eggs (48.24%) and Pulse Mash (46.66%), while decrease is observed in the prices of Chillies Powdered (41.42%), Gur (5.67%), Electricity for Q1 (2.67%), Sugar (1.16%) and LPG (0.05%).