Budget impact causes massive surge in food prices

LAHORE: After massive tax rate hike, food inflation has started to climb with the implementation of the federal budget 2024-25. After the implementation of GST tax revision, the prices of tetra milk packs, milk powder and bakery products have increased significantly.

The prices of rice have also recorded a major surge. According to the market report, the prices of dry milk of different categories have increased from Rs100 to Rs300 per pack.

The price of quarter tetra pack milk increased by Rs20 to Rs95. A liter pack of packaged milk increased by Rs75 to Rs370, while the price of one and a half litre tetra pack milk increased by Rs105 to Rs525.

In the same way, the companies selling bakery products have also increased the prices. The price of bun has increased by Rs5 to Rs50, sheermal by Rs5 to Rs65, medium bread by Rs10 to Rs150, fruit cake has increased by Rs10 to Rs190, while the price of plain cake has increased by Rs10 to Rs175.

A major increase in the price of husked rice has been seen in the market and rate of 25kg bag has increased by Rs800 to Rs5,900. On the other hand, the price of 20kg bag of flour at the retail level has increased by Rs50, while the price of a 10kg bag has increased by Rs45. The cost of a bag has increased from Rs1,950 to Rs2,000, while a bag of 10 kg flour has become expensive from Rs975 to Rs1,020.