Killing price spree

There is no let up in price increases and people keep on suffering its horrendous consequences. It is a pity that there is Killing price spree no authority in the land to put a cap on inflationary trends as it is practically a free-for-all situation. Reportedly prices rose at the fastest pace ever in the history of Pakistan with food, beverage and transport costs driving inflation to a point where analysts fear families will have to make choices and sacrifices. Monthly inflation, measured by a basket of products jumped 21.6 per cent and it was rated to be the highest annual rate since July 1965. Even worse are the reported figures in terms of short-term inflation that rose to an all-time high of 46.65 per cent and it is driven primarily by unprecedented increase in food prices. Though the government has undertaken belt-tightening measures to increase revenue through taxes and has allowed the rupee to depreciate with a view to unlock foreign funding to cover the financial gap but it has badly failed to keep a check on the galloping prices. The situation has come to a pass where a fast growing number of people find it almost impossible to afford even buying essential food items. TW

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