LAHORE – The Punjab government’s claims of reducing food prices proved ineffective as inflation continued to rise during the holy month of Ramazan.
Despite repeated claims by the Punjab government that the inflation rate is declining, the reality suggested the otherwise, with prices of essential commodities continued to surge.
Over the past two to three months, the prices of sugar, ghee, spices, chicken, and meat have skyrocketed, putting a strain on the consumers. Sugar has been hit the hardest, with its price soaring from Rs125 to Rs165 per kg in just over a month and a half.
Similarly, ghee and spices have gone up by Rs20 per kg, while meat, fruits, and vegetables have also seen significant price hikes.
The ground realities indicated that the public has received little relief from inflation, while the administration continues to insist that everything is under control.
Earlier, the Federal Bureau of Statistics has reported that the inflation rate in February dropped further to 1.52%. According to the bureau, the inflation rate in January 2025 stood at 2.41%, marking a 0.83% decrease in February compared to the previous month.
The Finance Ministry had projected the inflation rate for February to be between 2% and 3% but the actual rate turned out to be lower than expectations.
Meanwhile, Prime Minister Shehbaz Sharif expressed satisfaction over the continuous decline in inflation, as reflected in the Consumer Price Index (CPI). He stated that as the current government completes its first year in office, this is excellent news. He further added that it is a highly encouraging development that inflation has dropped to 1.5% in February 2025.
“This is the lowest inflation rate since September 2015,” said the PM, adding that the average inflation rate from July 2024 to February 2025 stood at 5.9%. He credited the economic team’s efforts, stating that economic indicators are improving with each passing day and that sustained economic progress is the result of efficient teamwork.
He emphasized that all institutions are working together to enhance the economy, boost business and attract investment. He also stated that the benefits of macroeconomic stability are beginning to reach the public, and expressed the strong hope that inflation would decline further.
The PM reaffirmed that ensuring the availability of essential commodities at affordable prices remains the government’s top priority.
