Price hike during Ramazan

The SPI-based inflation was 8.38 percent up on week ending September 6 over the same period of last year, with dearness for low income going up to 9.96 percent as compared to 6.19 percent for those earning over Rs 12000.
The data on weekly SPI released by the Federal Bureau of Statistics on Saturday showed that the poor are still being hit hard by dearness as the prices of core kitchen items have been increasing regularly since the start of current fiscal year.
The SPI for the lowest income group was 7.69 percent on July 5, 7.76 percent on August 2 and now 8.38 percent on September 6 and would be great relief for the poor if it does not go up further in Ramazan as, unfortunately, traders never miss an opportunity to make windfall profit on core food items during Ramazan.
Raja Waheed, a government employee, said he feared that the prices of core food items, already skyrocketing, would be further increased by the trader mafia including big cartels as well as cart vendors with the advent of Ramazan next week. He said the prices of chicken and eggs are already high even in this hot weather and God knows what would happen to the poor in Ramazan.
The government, he said, has given them free hand to charge the poor whatever price they like. Previously, it was witnessed that the traders had doubled the prices of all the essential commodities including fruits in this particular month.
The SPI bulletin, based on data collected for about 53 items from 17 centres showed an increase in the prices of 20 essential food items, decrease in 10 whereas 23 remained stable.
The FBS data showed that persistent increase in the prices of essential kitchen items have been eroding the budget of those who are earning between Rs 3000 and Rs 5000 as inflation was 9.96 percent for them. The data shows that wheat flour was 14.72 percent up against the same period of last year while wheat was up 11.83 percent, onion 39.66 percent, pulses 32.76 percent and vegetable ghee 36.05 percent as compared to last year.
The SPI recorded 160.05 percent inflation on August 30, 0.03 percent up against 160 of corresponding week. The inflation was recorded 9.96 percent for Rs 3000 earner against 6.19 for those earning above Rs 12000.
The week under review showed that price hike was 9.29 percent for people earning Rs 3000 to Rs 5000 and 8.38 for those earning between Rs 5001 and Rs 12000. Further analysis of the data showed that 22 items were dearer by double digits over last year.
These were onion 39.66 percent, match box 25 percent, rice Irri-6 44.93 percent, wheat 11.83 percent, mustard oil 33.43 percent, salt powder 10.09 percent, rice basmati broken 55.26 percent, firewood 11.45 percent, masoor pulsed washed 32.76 percent, veg ghee loose 36.05 percent, milk fresh 13.13 percent, curd 12.79 percent, egg hen (farm) 24.29 percent, and milk powdered 30.06 percent.