Geo Business

Milk, meat 18% edible oil 26% expensive

ISLAMABAD: Prices of milk, beef and mutton have risen by 18 percent while cooking oil has also become expensive by 26 percent during the week ended on October 20 compared to the same period last year, Geo News reported on Saturday. According to figures released by the Federal Bureau of Statistics (FBS), during the week ended on October 20, 2011 the Sensitive Price Index reflected an overall increase of 8.24 percent compared to the prices in the corresponding period last year. Prices of red chili and powdered milk have recorded increase of 60 and 21 percents respectively in the period in question. Rates of Kerosene oil rose by 28 percent, petrol 33 percent while diesel increased by 27 percent. According to economic experts, the country whose poor segments of society are forced to spend about 70 percent of their income on food, its government seems to be unmoved as no measures to control prices are in sight.