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Islamabad [Pakistan]Sept 3 (ANI): Inflation as measured by the Sensitive Price Index (SPI) rose sharply in the previous week, climbing to a record 45.5% year-on-year in September, the highest in a decade, the Pakistan Statistics Authority (PBS) said on Friday. Level.
The SPI-based inflation rate jumped to 1.31 percent in the previous week, compared with the previous week, as vegetable prices surged as the country bore the brunt of the catastrophic floods that affected the lives of more than 33 million people, PBS said, reporting Geo News.
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It was also the third week in a row that inflation continued to rise, largely due to supply chain disruptions caused by floods that sent prices of essential goods soaring.
The latest figures show that the average price of 31 essential items, onions, tomatoes, eggs and more, rose over the following week. Prices of three commodities, including vegetable ghee, have fallen. Meanwhile, prices for 17 essential items remained unchanged, Geo News reported.
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According to the report, food prices rose, including onions 42.17%, tomatoes 13.25%, beans (washed) 7.94%, potatoes 6.97%, eggs 3.84%, chicken 3.25%, and wheat flour 1.49%.
Non-food items with higher prices included LPG 4.45%, diesel 1.19% and gasoline 0.88%.
The Composite Income Group Index rose to 222.85 for the week under review, up from 219.97 for the week ended Sept. 1.
Compared with the previous week, the SPI of the lowest income group increased by 1.63%. The group’s index stood at 229.15, compared with 225.48 the previous week, Geo News reported.
Pakistan is grappling with a worse economic crisis, with soaring vegetable and food prices in the country facing devastating floods, putting enormous pressure on the population as they are deprived of basic necessities amid disruptions to agricultural products and supply chains.
The entire country is facing shortages of vegetables and prices are skyrocketing.
According to European Space Agency (ESA) satellite imagery, more than a third of Pakistan’s land was under water in the worst floods in history.
Food is in short supply after water covered millions of acres of crops and wiped out hundreds of thousands of livestock as deadly floods threatened to cause a secondary disaster.
According to Pakistan’s National Disaster Management Agency (NDMA), more than 1,100 people have died in the floods since mid-June, nearly 400 of them children, and millions have been displaced.
Pakistani Prime Minister Sheikh Baz Sharif said the floods were “the worst in the country’s history” and estimated the disaster caused more than $10 billion in damage to infrastructure, homes and farms.
More than 33 million people, or about 15 percent of the population, are affected, according to Pakistan’s climate change minister Sherry Rehman. According to the NDMA, more than 1 million homes were damaged or destroyed, while at least 5,000 kilometers of roads were damaged.
Flooding has affected 2 million acres of crops in Pakistan and killed more than 794,000 livestock, according to a situation report by the United Nations Office for the Coordination of Humanitarian Affairs.
According to WHO, more than 800 health facilities in the country were damaged, 180 of which were completely damaged, as reported in many affected areas, leaving millions without access to health care and medical services.
Pakistan’s monsoon season typically brings downpours, but this year is the wettest since records began in 1961, according to the Pakistan Meteorological Department. (ANI)
(This is an unedited and auto-generated story from the Syndicated News feed, the body of the content may not have been modified or edited by LatestLY staff)
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