Imran Khan Losses Sleep as Inflation Peaks Near 11% in May
PBS reported that inflation surged by 0.10% in May compared to the previous month while from July 2020 to May 2021, the rate sustained at 8.83%
Prime Minister Imran Khan has embraced that inflation is the biggest challenge for his government and it has taken away his sleep and rightly so as in May, inflation continued to spike and peaked at 10.87% according to the Pakistan Bureau of Statistics (PBS).
According to the report, the inflation rate remained higher than the projected figure of 9.8%.
Read Also
Govt to Focus Development Projects in Next Budget
The bureau reported that inflation surged by 0.10% in May compared to the previous month while from July 2020 to May 2021, the rate sustained at 8.83%.
Food inflation
PBS reported that corresponding to May 2020, the price of chicken rose by 59.57% in May 2021.
Similarly, the price of eggs surged by 54.96%, mustard oil by 30.75%, wheat by 29.90%, and flour by 28.54%.
The bureau reported that spices and red chilies went up by 26.71% and 90% respectively in a year.
The report said that the price of sugar increased by 21.62, bakery items by 16.81%, milk by 15.41% and vegetables by 12.53%, rice by 12%, and meat by 17%.
Non-food inflation
According to financial experts, non-food inflation is an integral part of the price-hike and impacts the rates of food items.
The changes in prices of petrol, diesel, electricity, and gas lead to an increase in the cost of production.
Thus, the sale of expensive manufactured goods accelerates the rate of inflation.
According to PBS, the fuel shot up by 25.34% between May 2020 and May 2021 while electricity prices rose by 21.83% during the same span.
Similarly, the bureau reported that the rentals rose by 9% and transport fares by 14% in a year.
The expenses on medical treatment surged by 11% and doctors’ fees by 10%.
The report said that the prices of clothes and shoes increased by 12% and 13% respectively and that of household plastic items by 14%.
