Ghee, cooking oil prices go up in Pakistan

SUKKUR: The hike in the prices of edible oil and Ghee has taken a toll on consumers as well as small traders, ARY News reported on Tuesday.

Small trades especially, food businesses are feeling the heat amid the increasing price of essential commodities.

In November, the price of cooking oil went up from Rs530 to Rs560, recording an increase of Rs30 whereas the rate of ghee reached Rs550.

The rampant inflation has hotels, restaurants and food carts’ owners worried as they say that the hiked ghee and cooking oil prices makes it impossible to run their businesses.

The inflation has death a severe blow to their sales as the hike in the prices of the food commodities put a big dent in consumers’ pockets, forcing people to reduce their spending.

Also read: Pakistan’s weekly inflation jumps to 15.02pc

The small traders said that their cost has doubled while the profit margins have declined.

The continuous surge in the prices of basic commodities is also leaving financial strains on households.

Already battered by the rising inflation, the spike in the ghee and cooking oil prices is further pushing up the cost of basic necessities including food.

The aggrieved consumers said that the government has failed to deliver any relief to the masses.

On October 18, the weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.28 percent for the combined consumption groups during the week ended on October 17, the Pakistan Bureau of Statistics (PBS) reported.