Fuel Prices Fuel Pakistan's Inflation Wave
Pakistan's inflation rate has been steadily increasing due to rising fuel costs. The latest petrol and diesel prices, announced on September 10, show a significant hike of 3.40 rupees per litre for petrol and 6.72 rupees per litre for high-speed diesel. This brings the revised prices to 367.75 rupees per litre for petrol and 392.67 rupees for high-speed diesel.
The increase in fuel costs has a ripple effect on other essential commodities like bread and flour, which have also seen a rise in prices. According to reports, bread prices have increased by between 8% and 9%, while flour prices have risen significantly, with a 20-kilogram bag costing between 2,200 to 3,200 rupees.
The report attributes the increase in wheat and flour prices to rising open-market wheat prices. Traders and retailers claim that the government's delayed action to import 1 million tonnes of wheat could have helped stabilize the market.