The costs of critical kitchen necessities, such as banaspati ghee and cooking oil, have escalated by up to 20% in the last two months, placing households under heightened financial strain.
The increase occurs notwithstanding government assertions of a declining inflation trend, raising apprehension among individuals already contending with elevated living expenses.
Reports indicate that the price of ghee has escalated by Rs30 to Rs120 per kilogram in multiple places, while the cost of cooking oil has surged by Rs50 to Rs150 per litre. Retailers have verified that the increase is impacting households across the nation, with costs differing according to brand and quality.
Rates for ghee and cooking oil in December 2024
The retail price of premium-grade ‘A’ quality ghee currently varies from Rs505 to Rs559 per kilogram. In Lahore and other metropolitan areas, the price of Sufi ghee has escalated to Rs350 per kilogram. Simultaneously, mid-range ‘B’ quality ghee is priced between Rs440 and Rs500 per kilogram.
The prices of cooking oil have risen correspondingly, with retailers attributing the escalation to the surging costs of raw materials in the global market. Wholesale distributors have identified global supply chain disruptions as a major contributor to the price increase.
The Consumer Price Index inflation indicates a trend of slowing.
Notably, the increase in ghee and oil prices coincides with data from the Pakistan Bureau of Statistics (PBS) showing a slowdown in core inflation. The Consumer Price Index (CPI) for November 2024 was 4.9%, a significant decrease from 7.2% in October 2024.
This figure indicates a notable enhancement relative to the 29.2% inflation documented in November 2023.
In November 2024, inflation rose by 0.5% month-on-month, reflecting a deceleration relative to the 1.2% increase observed in October. Nevertheless, for economically challenged households, this statistical enhancement provides minimal comfort since the costs of vital goods persist in escalating unabated.
