The National Price Monitoring Committee (NPMC) Monday observed a hike in the price of milk in Sindh and directed the provincial authorities to take appropriate measures to ensure stability in the price of milk.

Economic Adviser, Finance Division, briefed the National Price Monitoring Committee (NPMC) on the weekly SPI. Federal Minister for Finance and Revenue, Shaukat Tarin chaired the meeting.

The weekly sensitive price indicator (SPI) inflation has witnessed a decline of 0.08 percent as compared to an increase of 1.35 percent in the previous week. Thirty-three food items contributed to the decrease by 0.07 percent, whereas 18 non-food items contributed 0.01 percent decrease in SPI.

The NPMC meeting was informed that prices of 21 items remained stable in the last week, whereas prices of 14 items decreased, contributing to the SPI decline by 0.43 percent. The items which showed a decline in prices included tomatoes by 0.24 percent, potatoes by 0.04 percent, onions by 0.04 percent, and others by 0.11 percent. The prices of 16 items increased and contributed an increase in SPI by 0.35 percent. These items included garlic, by 0.04 percent, chicken, by 0.20 percent, banana, by 0.03 percent, and other items, by 0.08 percent.

NPMC was informed that there was, during the last week, a ‘healthy’ decline in prices of daily commodities, including pulses, tomatoes, chilli powder, potatoes, onions, eggs, sugar, gur (jaggery), and wheat flour bag. The meeting was apprised that prices of eggs had witnessed a decline for the last five weeks consecutively.

The committee was briefed on the prices of wheat flour and was informed that there was a decline in the wheat flour prices in the country, as sufficient stocks were available. The Secretary Ministry of National Food Security & Research (NFS&R) gave a presentation on the existing available stocks and eventual demand for wheat.

Source: Pro Pakistani