Onion prices drop to three-year low

Onion prices drop to three-year low


Sensitive Price Indicator (SPI) based inflation witnessed an increase of 0.22 percent

ISLAMABAD (Dunya News) – Finance Minister Shaukat Tarin was informed that the price of onion has reached its lowest level in the last three years.

A meeting of National Price Monitoring Committee (NPMC) was held under the chairmanship of Finance Minister Shaukat Tarin and was attended by federal ministers, advisors, special assistants and secretaries of ministries.

Economic Adviser Finance Division briefed the NPMC about weekly Sensitive Price Indicator (SPI) which witnessed increase of 0.22% as compared to decline in previous week by 0.08%.

As many as 33 food items contributed increase in the SPI by 0.31%, whereas 18 non-food items contributed decrease of 0.09% to the SPI, it added. NPMC was informed that prices of 12 items remained stable last week whereas that of 11 items decreased contributing decline in SPI by 1.08%.

The committee was informed that chilly powder, eggs, electricity charges, onions, potatoes, gur, sugar, wheat flour, LPG cylinder, pulse moog, pulse mash have shown decline in the prices during the last week. It was informed that prices of onion are lowest as compared to its prices 3 years earlier.

The NPMC was also updated on the wheat flour prices in the country, the statement added.