Basic food items prices increased ahead of Eid

ISLAMABAD - Keeping its previous tradition intact, the strong market mafia is once again active to exploit the helpless consumers by trading basic food commodities at higher prices just ahead of Eid-ul-Azha.
According to the official figures of Pakistan Bureau of Statistics (PBS) and market sources, prices of commonly used vegetables like tomatoes, potatoes, onions, green chilies and garlic have recorded massive increase in last few days. Market sources were of the view that prices of vegetables started increasing from last week owing to the advent of Eid-ul-Azha. It is common practice in Pakistan that prices of basic food items are enhanced with the advent of religious festivals like Ramazan, Eid-ul-Fitr and Eid-ul-Azha, as hoarders come into action by selling commodities at higher prices.
Average price of tomatoes went up to over Rs 60 per kg from Rs 50 per kg of few days earlier. Similarly, prices of onions, garlic and potatoes also registered an increase. Price of chicken has enhanced to Rs 122 per kg from earlier price of Rs 115 per kg.
According to the PBS figures, inflation based on Sensitive Price Indicator (SPI) was recorded at 5.91 per cent during the week ended on Thursday as compared to the same period of last financial year.According to the latest PBS figures, inflation for the lower earning class of the society (earning up to Rs 8000 per month) was recorded at 6.49 per cent, followed by 8.56 per cent for the income group earning up to Rs 8001-12000 per month.  Meanwhile, inflation for the income group earning Rs 12001-18000 per month was registered at 8.16 per cent, followed by 4.88 per cent for the income group earning Rs 18001-35000 per month.
However, the least effect of the inflation was once again observed for the higher income group (earning above Rs 35000 per month) as it was recorded at 3.15 per cent for the said class.
SPI monitors prices of 53 items based on the survey of 17 cities and 53 markets. According to the latest PBS figures, prices of 13 items registered increase, 11 items recorded decrease and 29 items remained unchanged during the week that ended on Thursday.
Prices of onions rose to Rs 42 per kg in the period under review from Rs 41 per kg of the preceding week, potatoes price increased to Rs 31.90 from Rs 30.75, price of tea (yellow lable 200 Gm) enhanced to Rs 135 from Rs 130. Price of eggs surged to Rs 110 per dozen from Rs 107. Firewood price raised to Rs 478 per 40 kg from Rs 473. Prices of wheat, mash pulse washed and gur also recorded nominal increase in the period under review.
Meanwhile, price of petrol reduced to Rs 102.45 per liter from Rs 104.74 and bananas price decreased to Rs 56.21 per dozen from Rs 57.35. Price of diesel, lawn, gram pulse washed, wheat flour bag, sugar, kerosene, moong pulse washed, rice irri-6 and red chilies powdered also reduced in the period under review