Ramazan under soaring inflation.

Byline: S. KAMAL HAYDER KAZMI

The World Food Program (WFP) estimates that 349 million people across 79 states were acutely food insecure in 2022 and greater than 140 million required assistance, and that number is not expected to change much in 2023. Asia and Africa are home to the highest number of undernourished people. Under the holy month of Ramazan millions of Muslims in the world are feeling the pinch of inflation. During Ramazan, will higher food and drink costs force households to cut back on traditional commodities counting dates, cakes, biscuits and sugary juices, or to substitute them with cheaper alternatives? How is the cost-of-living crisis playing out for Muslims in the world? Could this have other social consequences? And can charities help?

In the developing countries like Pakistan, the country faces its most challenging Ramadan yet with soaring inflation making headlines each month. With prices of essential commodities at an all-time high, food items of daily use like flour and onions are being sold for Rs1,295-3,100 and Rs100-200.

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Inflation In Pakistan

Average July A March % changes March over March % changes

Index

2022-2023 2021-2022 2020-2021 2022-2023 2021-2022 2020-2021

CPI (National) 27.26 10.77 8.34 35.37 12.72 9.05

CPI (Urban) 25.04 10.78 7.36 32.97 11.94 8.75

CPI (Rural) 30.56 10.75 9.83 38.88 13.88 9.51

SPI 30.5 17.26 11.91 40.44 13.02 18.7

WPI 34.15 22.27 6.35 37.52 23.78 14.59

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As per the Pakistan Bureau of Statistics (PBS) CPI inflation General, grew to 35.4 percent on year-on-year basis in March 2023 as against to a rise of 31.5 percent in the last month and 12.7 percent in March 2022. On month-on-month basis, it increased to 3.7 percent in March 2023 as against to a rise of 4.3 percent in the previous month and an increase of 0.8 percent in March 2022. Furthermore CPI inflation Urban grew to 33.0 percent on year-on-year basis in Mar 2023 as compared to an increase of 28.8 percent in the last month and 11.9 percent in March 2022. On month-on-month basis, it grew to 3.9 percent in March 2023 as against to a rise of 4.5 percent in the last month and a rise of 0.7 percent in March 2022. CPI inflation Rural, grew to 38.9 percent on year-on-year basis in March 2023 as against to an increase of 35.6 percent in the previous month and 13.9 percent in March 2022.

On month-on-month basis, it grew to 3.5 percent in March 2023 as against to a rise of 4.0 percent in the last month and an incrse of 1.0 percent in...