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State of the economy

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The Pakistan Bureau of Statistics (PBS) released its Monthly Review on Price Indices for January 2020. The National Consumer Price Index, which shot up by 14.56 percent, actually broke a 12-year record. The most alarming jump took place in ‘perishable food items’ where the index shot up by a hefty 78 percent. Imagine; perishable food items were 78 percent cheaper just a year ago.

Another disturbing trend that I noticed is that prices are going up faster in rural areas than in urban areas. We always used to say that Pakistanis living in rural areas are better off as they have ready access to food items. Not true. Imagine: the prices of ‘perishable food items’ in rural areas actually shot up by 90 percent (as opposed to 78 percent in........

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