Islamabad September 16 2022: Pakistan Food Inflation eases for the consecutive second week with a decrease of 0.19% for the current week ended on 15th September, 2022.
Elimination of all taxes and duties in procuring the two main vegetables by import has helped in reduction of their prices. Recent floods have brought unprecedented crop damage. As a result, the prices of onion and tomatoe have sky-rocketed in the local markets. In order to alleviate the sufferings of the people due to abnormal price hike, the Prime Minister of Pakistan ordered urgent relief measures to ensure an uninterrupted supply of onion and tomatoe in the local markets.
In line with the vision of the Prime Minister, and on the directions of the Federal Government, the FBR has exempted all duties and taxes on import of onion and tomatoe. Such imports were already exempt from Customs duty but were chargeable to 17% sales tax, 3% additional sales tax and 1% income tax. Now these can be imported duty / taxes free till 31.12.2022.
Decrease is observed in the prices of food items, Onions (16.24%), Tomatoes (9.84%), Bananas (2.50%), Chicken (1.88%), Sugar (0.95%), Vegetable Ghee 1Kg (0.39%), Potatoes (0.33%), Vegetable Ghee 2.5Kg (0.23%) and Cooking Oil 5 litre (0.10%), non-food item, LPG (2.62%).
On the other hand increase observed in the prices of Tea Lipton (6.30%), Pulse Moong (3.46%), Eggs (2.54%), Cooked Beef & Pulse Gram (2.53%) each, Wheat Flour (1.96%), Rice Irri 6/9 (1.73%), Cooked Daal (1.71%), Pulse Mash (1.68%) and Bread (1.45%).
During the week, out of 51 items, prices of 30 (58.82%) items increased, 10 (19.61%) items decreased and 11 (21.57%) items remained stable.
The year on year trend depicts an increase of 40.58%, Tomatoes (170.51%), Diesel (105.12%), Petrol (90.73%), Pulse Masoor (76.65%), Pulse Gram (67.11%), Mustard Oil (65.75%), Cooking Oil 5 litre (65.45%), Washing Soap (61.05%), Vegetable Ghee 2.5 Kg (60.68%), LPG (56.61%), Vegetable Ghee 1 Kg (56.46%), Pulse Mash (53.41%) and Electricity for Q1 (52.04%), while decrease observed in the prices of Chillies Powder (43.05%), Sugar (19.83%) and Gur (2.50%).