Tag: consumer
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Unchecked overcharging: Shopkeepers set their own rates for essential items during Ramzan
At the start of Ramzan, prices of essential food items have witnessed an uncontrolled surge, with little intervention from the authorities concerned. Shopkeepers are selling essential food items at their desired rates instead of selling at government-announced rates. A recent survey of markets in Peshawar reveals an alarming increase in prices of food items, which…
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International petrol, diesel prices drop, but no relief for Pakistanis
The government has decided not to reduce the prices of diesel and petrol for local consumers, despite a significant decrease in their international prices. This decision is intended to offset previous exchange losses and raise taxation. On February 28, 2023, the average fortnightly prices of petrol and diesel in the global market will be used…
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Pakistan’s inflation hits 21.32 per cent in June 2022
In June 2022, Pakistan’s yearly inflation rate reached a 13-year high of 21.3 per cent, up from 9.7 per cent in June 2021 and 13.8 per cent in May 2022, according to the most recent data made public recently by the Pakistan Bureau of Statistics (PBS). According to PBS, monthly CPI-based inflation rose by 6.3…
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Turkey: Food prices surged by 89 per cent, transportation costs increased by 106 per cent
Turkey’s inflation rate skyrocketed to almost 70 per cent last month, creating a substantial challenge for President Recep Tayyip Erdogan, whose unusual economic strategies are frequently blamed for the country’s economic woes. Erdogan, defying economic conventional wisdom, insists that major interest rate cuts are essential to reduce spiralling consumer costs. Turkey’s consumer price index (CPI)…