Home / This Week / Research / Monthly commodities hike – miseries of the poor

Monthly commodities hike – miseries of the poor

People are facing immense challenges as the consistent increase in inflation rates, the sharp price rise of basic essentials and due to weak economic activities and stern action and warning for taking tax on every households making the life miserable for the poor citizen of the country, unfortunately, Naya Pakistan Apna Ghar housing scheme is a sort of some relief but due to over taxing and rising essential commodities, this scheme will not be any delight for the common man.

Heavy taxes have changed the life especially of those persons who are just earning Rs 500 per day and how they will survive in meeting the rising prices of every basic things of need. The rich government and local individuals can bear it but not the middle and poor one who is depending on daily earnings. A sharp rise in the fuel, food and transportation costs has harshly hit the local budgets of people. It is irony people who left their homes for green pasture away from towns and cities are now returning home after a drastic reduction in their income.

According to the sources, the utility stores in Pakistan have raised prices of various general use commodities. Furthermore, the utility stores have increased Rs 3.0 on per kg of sugar, from existing Rs. 69 per kg to Rs 72. Statistics also show that the prices of greater than 50 brands of shampoo, soaps and creams have been increased upto Rs 20 at utility stores. The price of a 50 milliliter jar of a face cream has been enhanced by Rs 10, from Rs. 217 to 227. Various brands’ soaps prices go up by Rs 1 to 2.

Economist have also recorded that everything has become expensive as the Government of Pakistan has made everything costlier. The room rent is expensive. Inflation has reached where it is impossible for the common man to survive. According to the Federal Bureau of Statistics (FBS), the monthly top few food commodities which increased from previous month i.e. May 2019 are potatoes (17.28%), cigarettes (7.75%), sugar (6.16%), pulse moong (5.05%), gur (4.25%), pulse mash (3.69%), onions (2.95%), wheat flour (2.21%), wheat (2.15%), bakery and confectionary (1.88%), eggs (1.57%), pulse masoor (1.33%), milk fresh (1.05%), meet (1.02%), vegetable ghee (1.01%), Besan (0.75%) and rice (0.35%). Whereas, yearly top few food commodities which increased from previous year i.e. June, 2018 such as onions (72.13%), pulse moong (42.67%), sugar (33.50%), gur (27.85%), cigarettes (23.64%), fresh vegetables (18.05%), spices (16.59%), pulse mash (washed) (16.39%), potatoes (13.36%), meat (12.77%), pulse gram (12.47%), beans (10.67%), pulse masoor (9.18%), wheat (8.79%), vegetable ghee (8.08%), cooking oil (7.73%), rice (6.17%), besan (5.55%) and milk fresh (4.48%).

 

According to FBS, Consumer Price Index (CPI) inflation General raised by 8.9 percent on yearly basis in June, 2019 as against to a rise of 9.1 percent in the last month and 5.2 percent in June 2018. On monthly basis, it raised by 0.4 percent in June 2019 as against to a rise of 0.8 percent in the last month and a rise of 0.6 percent in same month i.e. June 2018. According to FBS, Sensitive Price Index (SPI) inflation on yearly basis raised by 10.6 percent in June 2019 as against to a rise of 10.8 percent a month earlier and a rise of 1.9 percent in June 2018. On Monthly basis, it raised by 1.6 percent as against to a rise of 1.2 percent in the last month and a rise of 1.8 percent in same month of previous year i.e. June 2018. Wholesale Price Index (WPI) inflation on yearly basis rose by 12.7 percent in June 2019 as against to a rise of 14.0 percent a month earlier and a rise of 7.6 percent in June 2018. WPI inflation on monthly basis rose by 0.3 percent in June 2019 as against to a rise of 1.4 percent a month earlier and a raise of 1.5 percent in same month of previous year i.e. June 2018.

Conclusion

The economic losses being faced by Pakistan due to weak policy making in the past and surprisingly the government has received the 13th bailout package from the International Monetary Fund worth $6 billion. It is good that the present government is planning to pay off foreign debt in a short time period as a result heavy taxes have been imposed. But it is not fair to impose heavy taxes on the commodities, which bearing burden on depressed country people.

Inflation In Pakistan (%) (Base 2007-08)
PeriodCPICore InflationSPIWPI
General FoodNon-foodNFNETrimmed
YoY MoM YoY MoM YoY MoM YoY MoM YoY MoM YoY MoM YoY MoM
May-184.20.51.01.06.40.27.00.25.10.30.50.15.61.3
Jun-185.20.63.00.86.70.47.10.35.40.21.91.87.61.5
Jul-185.80.93.50.67.41.27.61.25.90.93.61.210.52.4
Aug-185.80.23.30.27.60.27.70.25.90.23.30.211.00.8
Sep-185.1-0.11.4-0.77.70.38.00.45.80.11.0-0.19.2-1.5
Oct-186.82.32.71.99.62.68.21.16.70.81.31.113.14.2
Nov-186.50.11.8-0.59.80.58.30.46.70.31.30.313.50.7
Dec-186.2-0.40.9-1.49.80.28.40.36.90.32.00.012.1-0.9
Jan-187.21.02.40.310.51.48.71.17.71.03.70.69.9-0.2
Feb-198.20.65.01.410.40.18.80.27.70.26.51.511.00.9
Mar-199.41.48.42.910.10.58.50.57.90.48.81.612.61.7
Apr-198.81.38.61.79.01.07.01.07.20.99.30.913.82.3
May-199.10.88.71.19.40.67.20.47.50.410.81.214.01.4
Jun-198.90.48.20.49.30.47.20.37.30.410.61.612.70.3

Check Also

Market Indicators

Market Indicators

Market indicators are a series of technical indicators used by traders to predict the direction …

Leave a Reply