Ghee, cooking oil prices increase in Pakistan

ISLAMABAD: The hike in edible oil and ghee prices here on Tuesday has hit consumers as well as small traders badly.

Small businesses, especially food businesses, are feeling the heat amid the rising prices of essential commodities.

In November, the price of cooking oil increased from Rs 530 to Rs 560, recording an increase of Rs 30, while the price of ghee reached Rs 550.

The rising inflation is worrying hotel, restaurant and food truck owners as they say the increase in ghee and cooking oil prices is making it impossible to run their businesses.

The inflation has dealt a severe blow to their sales as the rise in food prices has hit consumers’ pockets hard and people are forced to cut their expenses.

Small traders said their costs have doubled while profit margins have shrunk.

The continuous rise in the prices of basic commodities is also putting financial pressure on households.

Already troubled by rising inflation, the increase in the prices of ghee and cooking oil is further increasing the prices of basic necessities, including food.

The distressed consumers said that the government has failed to provide any relief to the people.

On October 18, the Pakistan Bureau of Statistics (PBS) reported that weekly inflation, as measured by the Sensitive Price Index (SPI), increased by 0.28 percent for common consumption groups during the week ending October 17.