House construction, living cost up; industrial production down
Constructing a house or living cost has been increasing due to rise in prices of construction materials and daily essential products, according to a survey.
Most of the industrial products – from daily consumable to the luxury products and construction materials – have witnessed price hike, according to Central Bureau of Statistics (CBS).
Price hike in raw materials, energy crisis and rise in production cost has pushed the prices of industrial products, said the first quarter survey of the CBS that collects the price from across the country.
The price hike of cement, bricks to paints has made constructing houses more expensive, whereas price rise in rice, flour to oil has made the living costlier.
However, the price of woolen shawls have seen the highest rise – at 144 per cent compared to last fiscal year’s first quarter – followed by flour, noodles, paints, the survey added.
Of the total 44 products surveyed by the bureau, some 32 products have seen price hike, whereas the remaining 12 have seen price drop.
From rice, flour to oil and cement, bricks to paints, coupled with chocolate, biscuits, and noodles have witnessed price hike in the first quarter of the current fiscal year compared to the first quarter of the lat fiscal year, the data revealed.
Industrial production slows down
Likewise, the industrial production has also slowed down, according to the CBS. The low production has also pushed the prices up, it said, adding that of the total 23 industrial industrial products surveyed, some 14 products have seen slowdown in production. Vegetable ghee, dairy products, textile, furniture have seen lower production in the first quarter of the current fiscal year compared to the last fiscal year.