‘Rs 500 Per Dozen’: Banana Prices Skyrocket In Debt-Strapped Pakistan
Pakistan’s socio-economic crisis is worsening with each passing day. The country is struggling with high inflation as commodity prices are rising to record highs. The Islamic nation is particularly hit by high flour/atta prices which has led to stampedes in some places. Now, according to reports, banana prices have also shot up in Pakistan with the universal fruit being sold at Rs 500 per dozen. An online search showed that banana is being sold between Rs 250 to Rs 500 per dozen based on geographical location and availability. In the last one week, the prices of bananas have registered an increase of 11.07 per cent.
The short-term inflation, measured by the Sensitive Price Index (SPI), has reached an all-time high of 46.65 per cent year-on-year for the week ending on March 22, in comparison to last week’s 45.64 per cent YoY, as per data by the Pakistan Bureau of Statistics (PBS), media reports said. On a week-on-week basis, short-term inflation increased by 1.80 per cent as tomatoes, potatoes and wheat flour became costlier, Samaa TV reported.
Not a banana republic. pic.twitter.com/Sm33y6VlHM
— Naila Inayat (@nailainayat) March 26, 2023
The SPI for the current week that ended on March 22 recorded an increase of 1.80 per cent. A major increase is observed in the prices of food items – tomatoes (71.77 per cent), wheat flour (42.32 per cent), potatoes (11.47 per cent), bananas (11.07 per cent), tea Lipton (7.34 per cent), pulse mash (1.57 per cent), tea prepared (1.32 per cent) and gur (1.03 per cent), and non-food items like georgette (2.11 per cent), lawn (1.77 per cent) and long cloth (1.58 per cent), Samaa TV reported.
On the other hand, a decrease was observed in the prices of chicken (8.14 per cent), chillies powdered (2.31 per cent), LPG (1.31 per cent), mustard oil & garlic (1.19 per cent) each, pulse Gram & onions (1.06 per cent each), vegetable ghee 1 kg (0.83 per cent), cooking oil 5 litre (0.21 per cent), pulse moong (0.17 per cent), pulse masoor (0.15 per cent), and Eggs (0.03 per cent).
During the week, out of 51 items, prices of 26 (50.98 per cent) items increased, 12 (23.53 per cent) items decreased, and 13 (25.49 per cent) items remained stable, Samaa TV reported.
The year-on-year trend depicts an increase of 46.65 per cent, for onions (228.28 per cent), cigarettes (165.88 per cent), wheat flour (120.66 per cent), gas charges for Q1 (108.38 per cent), diesel (102.84 per cent), tea Lipton (94.60 per cent), bananas (89.84 per cent), rice Irri-6/9 (81.51 per cent), rice Basmati broken (81.22 per cent), petrol (81.17 per cent), eggs (79.56 per cent), pulse moong (68.64 per cent), potatoes (57.21 per cent) and pulse mash (56.46 per cent), while a decrease is observed in the price of chillies powdered (9.56 per cent). (With IANS inputs)
