This is apropos a Business Recorder op-ed "Food inflation rises to 22pc!" carried by the newspaper on Tuesday. The writer, Dr Hafiz A Pasha, has highlighted a highly significant aspect of rising food inflation. According to him, for example, "The current 22 percent increase in the price index of basic food items is the highest since 2008-09, when it reached 23 percent. However, the pattern of inflation in 2008-09 was very different. Almost 60 percent of the contribution to the rate of inflation was by cereals, livestock products and sugar combined. Interestingly, the price of tomatoes went by only 4 percent in 2008-09 as compared to 234 percent currently."
This rising food inflation is a highly disturbing factor for even middle-class households as there are reports that people have switched to cheaper meals and don't eat meat or fish as often as before. But they cannot make more compromises in their regular simple meals. The State Bank of Pakistan must initiate certain actions in order to contain food inflation because inflation and price stability are its prime responsibilities.
Comments
Comments are closed.