ISLAMABAD: The Utility Stores across Pakistan have announced a significant price reduction following a drop in inflation to single digits. The Utility Stores Corporation has slashed the prices of over 800 items by up to 10%.
Products such as ghee, cooking oil, tea, detergent, noodles, ketchup, milk (tetra pack and powdered), spices, pickles, soap, and toothpaste have seen price cuts ranging from Rs8 to Rs200, effective immediately.
However, the Benazir Income Support Program (BISP) subsidy at Utility Stores has been temporarily suspended. Authorities have assured the public that it will be reinstated soon under a revised procedure.
The management has also introduced a new strategy aimed at providing high-quality and affordable goods, ensuring customers face no inconvenience while shopping.
The core inflation rate, measured by the Consumer Price Index (CPI), dropped to 9.6% in August 2024, the lowest in 34 months. Data from the Pakistan Bureau of Statistics (PBS) showed that CPI inflation was 11.1% in July 2024, compared to 27.4% in August 2023.
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