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      Rahul Gandhi criticizes Modi’s handling of relations with China

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      Chinese fans welcome ‘Comrade Musk’

      Chinese fans welcome ‘Comrade Musk’

      Syrian refugee becomes mayor of German village

      Syrian refugee becomes mayor of German village

      China declines US invitation for meeting in Singapore

      China declines US invitation for meeting in Singapore

      Shanghai records hottest May day in 100 years

      Shanghai records hottest May day in 100 years

      Erdogan launches new attack against Turkey’s LGBTQ Community

      Recep Tayyip Erdogan pays homage to his executed Islamic predecessor

      Earthquake jolts different parts of Punjab and KP

      Japan: Earthquake hits coast east of Tokyo

      Tipu Sultan bedchamber sword sold for $17.4 million

      Tipu Sultan bedchamber sword sold for $17.4 million

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      Meeting with Bilawal Bhutto demonstrates Pak-China close ties, Zhao Lijian

      Pakistan to develop its economy with great potential, Zhao Lijian

      OGRA reduces prices of LPG for June 2023

      OGRA reduces prices of LPG for June 2023

      Govt trying to put inflation burden over rich class, Dr. Aisha Ghaus

      Minister termes IMF mission chief’s statement as “interference”

      Ishaq Dar to lead high-ranking delegation for meetings with IMF, WB

      Govt shares budget proposal with IMF for review

      Ishaq Dar confirms to return Pakistan in July

      Islamic finance potentially able to address challenges of poverty, Dar

      US Ambassador calls on Finance Minister Ishaq Dar

      US Ambassador calls on Finance Minister Ishaq Dar

      World Bank approves $213 million in financing for Balochistan

      World Bank approves $213 million in financing for Balochistan

      OGRA takes action against illegal sale of petroleum products

      OGRA takes action against illegal sale of petroleum products

      Ishaq Dar to lead high-ranking delegation for meetings with IMF, WB

      Successfully conclude tasks pertaining to IMF, Ishaq Dar

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      Hate against Muslims becomes fashionable in India, Naseeruddin Shah

      Hate against Muslims becomes fashionable in India, Naseeruddin Shah

      Ranbir to replace Salman Khan in Aamir Khan’s ‘Campeones’ remake

      Ranbir to replace Salman Khan in Aamir Khan’s ‘Campeones’ remake

      Highly-anticipated movie ‘Adipurush’ continues to make waves

      Highly-anticipated movie ‘Adipurush’ continues to make waves

      Arooj Aftab ignites social media debate on cultural labelling

      Arooj Aftab ignites social media debate on cultural labelling

      Music star Salman Ahmed condemns May 9 vandalism

      Music star Salman Ahmed condemns May 9 vandalism

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      Celebrities, renowned personalities pay homage to martyrs

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      French prosecutors charge VP with corruption in Qatar 2022 World Cup

      French prosecutors charge VP with corruption in Qatar 2022 World Cup

      Wicketkeeper Jimmy Peirson included to Australia’s squad for Ashes

      Wicketkeeper Jimmy Peirson included to Australia’s squad for Ashes

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      No need to nullify NAB laws, Supreme Court

      PTI to return assembly if wants amendments in NAB laws, SCP

      IK including Bushra Bibi declares his assets including

      Imran Khan spend Rs900 m at Prime Minister Office between 2019 to 2021

      Peru sentences ex-president to 1.5 years in prison

      Peru sentences ex-president to 1.5 years in prison

      ISLAMABAD: Police mobile crushes Mother, Daughter to death

      ISLAMABAD: Police mobile crushes Mother, Daughter to death

      ECP unanimously finds PTI guilty of receiving prohibited foreign funds

      Imran Khan to send Rs10b notice to CEC in Toshkhana reference

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      Voice of Sindh
      Home BUSINESS

      Inflation shot up to 33% in comparison to February last year

      The pace of increase in the prices of food items has more than tripled in just one year

      Web Desk by Web Desk
      in BUSINESS, EDITORS PICK, FINANCE
      Reading Time: 2 mins read
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      In February this year, annualised food inflation shot up to 41.9 percent in urban areas and 47pc in rural areas of Pakistan. In February last year, these readings stood at 14.3pc and 14.6pc, respectively.

      This means that food inflation — or the pace of increase in the prices of food items — has more than tripled in just one year.

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      But what does it mean for households? It means that a rural family needed Rs14,700 in February 2023 to buy the same amount of food that they had bought for Rs10,000 in February 2022. For an urban household, the requirement was a little less — Rs14190.

      So, what if rural and urban households didn’t have more than Rs10,000 to spend on food? Well, in that case, in Feb 2023, a rural and an urban household ended up buying with their Rs10,000 only as much food as was worth Rs5,300 and Rs5,810, respectively, in Feb 2022.

      This painful food inflation has hit Pakistanis amidst a sharp economic slowdown (likely GDP growth of 1.3pc in FY23 versus 6pc in FY22), rendering about two million people jobless. It is not difficult to imagine the disastrous impact of such high food inflation rates on the lives of jobless people and those whose incomes have fallen due to the economic crisis.

      No wonder people are losing lives in stampedes occurring at the distribution of free wheat flour and some are committing suicide. However, the vast majority of financially constrained people are living on meagre incomes by working in the shadow economy, supplemented by debts, charity and the government’s cash handouts and subsidies.

      Tags: increaseInflationpakistan

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      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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