The Pakistan inflation rate fell by around two percentage points to 9.2% in July, according to a briefing presented at a meeting of the National Price Monitoring Committee (NPMC). The meeting was chaired by Federal Minister for Planning Ahsan Iqbal in Islamabad.
Officials told the committee that inflation had declined from 11.1% to 9.2% during July. The meeting reviewed the overall price situation, including the costs of essential commodities and the quality of food products available in markets.
According to the briefing, higher gas prices remained the biggest factor pushing inflation upward. Prices of wheat, flour, fresh milk and petrol also contributed to inflationary pressure. However, lower prices of sugar, potatoes and chicken helped reduce the overall rate.
The Pakistan inflation rate was discussed alongside concerns about the quality of packaged food products. A report presented at the meeting said 176 out of 491 samples of edible oil, ghee and milk failed to meet national quality standards, meaning around 36% of the tested samples were classified as substandard.
The report showed that 98 of 204 samples of vegetable ghee failed quality tests. Similarly, 40 of 146 blended cooking oil samples, 26 of 104 packaged milk samples and eight of 18 milk powder samples were found below the required standards. Three of four refined palm oil samples and one of 13 refined canola oil samples also failed.
Ahsan Iqbal directed authorities to conduct a nationwide survey of loose ghee, edible oil and milk. He said substandard food products posed a serious threat to public health. A technical committee of experts was also formed to examine the laboratory findings and provide evidence-based recommendations.
The committee also reviewed LPG and essential commodity prices, along with the possible impact of global crude oil, soybean oil, rice, wheat, sugar and fertiliser prices on the domestic market. Officials were further directed to investigate significant differences between wholesale and retail prices and take measures to ensure consumers receive essential goods at fair prices.
