Food Prices in Pakistan Are World's Second Lowest Despite Inflation

[RiazHaq]

Food Prices in Pakistan Are World's Second Lowest Despite Inflation

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The cost of living in Pakistan is the world's lowest despite recent inflationary trends, according to the Cost of Living Index for mid-2021 as published by Numbeo. Numbeo Grocery Index reports that the food prices in Pakistan are the second cheapest in the world.

Cost of Living Map. Source: Numbeo

For overall cost of living as measured by Numbeo, Pakistan ranks 139 among 139 countries of the world. It is cheaper to live in Pakistan than to live in any of its neighboring countries in South Asia or West Asia. India ranks 138, Afghanistan 136, Bangladesh 115 and Iran 87.

Cost of Living Rankings. Source: Numbeo

For food prices, Pakistan ranks 138 among 139 countries ranked. Only Afghanistan ranks below Pakistan at 139 on Numbeo Groceries Index. India ranks 129 and Bangladesh 112.

Monthly Cost of Food Per Person in Pakistan. Source: Numbeo

Using a basket of Asian food types, the cost of feeding one person in Pakistan with a healthy, balanced diet of 2400 daily calories works out to Rs. 10,364.55 for a month, much lower than Rs. 13,635.77 (INR 6201.40) in India. It consists of bread, rice, meat, eggs, fruits and vegetables. The most expensive components of the food baskets are chicken and beef. Reducing the amount of meat can help bring the cost of the meal further down. At Rs. 15,248.41 per month, the cost of western food basket is about 50% higher but still significantly lower than Rs. 19,233.35 (INR 8747.13) in India.
Pakistan is among world's top 10 food producing countries. After a wheat and sugarcane shortfall last year, there are reports of record production of wheat and corn in Pakistan this year. Higher domestic production will hopefully help contain food price inflation in coming months.
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Food Prices in Pakistan Are World's Second Lowest Despite Inflation

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

 

[RiazHaq]

Affordability is a key indicator. Pakistan (LPP of 24.56) ranks 101 among 139 countries for Local Purchasing Power. India (42.16) ranks 52, Bangladesh (21.76) 111, Afghanistan (20.53) 112 and Iran (16.82) 124. Switzerland (102.77), the United States (94.32) and Australia (91.07) top the list in terms of local purchasing power.

However, the bottom line is that there is less hunger in Pakistan than in India, according to the World Hunger Index. India ranks 94th among 107 nations ranked by World Hunger Index in 2020. Other South Asian have fared better: Pakistan (88), Nepal (73), Bangladesh (75), Sri Lanka (64) and Myanmar (78) – and only Afghanistan has fared worse at 99th place. The COVID19 pandemic has worsened India's hunger and malnutrition. Tens of thousands of Indian children were forced to go to sleep on an empty stomach as the daily wage workers lost their livelihood and Prime Minister Narendra Modi imposed one of the strictest lockdowns in the South Asian nation. Pakistan's Prime Minister Imran Khan opted for "smart lockdown" that reduced the impact on daily wage earners. China, the place where COVID19 virus first emerged, is among 17 countries with the lowest level of hunger.

https://www.riazhaq.com/2020/10/india-tops-south-asia-hunger-chart-amid.html


Why is it? Because Pakistan has less inequality than its neighbors.

In 2014, the Center for Global Development estimated median incomes of countries around the world. Here's what it reported for India and Pakistan:

Pakistan: Median Income per capita: $1,204.50, Median Household Income: $6,022.50 Mean (Average) per capita $4,811.31

India Rural: Median per capita $930.75 Median Household $4,653.75 Mean (Average) per capita $5,700.72

India Urban: Median per capita $1295.75 Median Household $6,478.75 Mean(Average) per capita: $5,700.72

It shows that India's urban median income is slightly higher than Pakistan's median income. However, India's rural median income is significantly lower than Pakistan's. It should be noted that 70% of India's population lives in rural areas, much higher than Pakistan's 61%, according to the World Bank.

https://www.riazhaq.com/2017/01/comparing-median-income-wealth-data-for.html