Islamabad: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal chaired a meeting of the National Price Monitoring Committee on Thursday to address concerns over rising inflation and the widening gap between wholesale and retail prices of essential goods. The meeting aimed to evaluate the current inflationary trends, particularly focusing on commodities like wheat flour, and emphasized the need for stricter monitoring and enforcement to control unjustified price hikes and hoarding.

According to Press Information Department, the Consumer Price Index (CPI) inflation stood at 10.3% year-on-year in September 2026, showing a decrease from 11.1% in August, while the average inflation for the first quarter of FY2026-27 was reported at 10.2%. The meeting also highlighted that the Wholesale Price Index (WPI) inflation rose to 13.3% year-on-year, with the Sensitive Price Indicator (SPI) for the week ending October 1 recording an 11.53% increase compared to the previous year. Significant annual price increases were noted in commodities such as onions, liquefied petroleum gas (LPG), electricity, diesel, petrol, and wheat flour.

Ahsan Iqbal instructed relevant authorities to scrutinize the relationship between current and past transport fares following fuel price hikes to ensure that fare increases are justified. He also called on the Ministry of National Food Security and Research to investigate the persistence of high diammonium phosphate (DAP) prices in the domestic market despite a global price decline, urging that international price reductions be reflected locally.

Moreover, the Minister requested a detailed report on the quality of products like ghee, edible oil, and milk within a week and insisted that any proposed third-party validation costs be covered by the industry. He urged provincial governments to monitor price discrepancies in major markets such as Lahore and Karachi and enforce actions against unjustified pricing practices, while also ensuring the integrity of supply chains to mitigate unnecessary price pass-throughs on essential food items.

Ahsan Iqbal reiterated the importance of combating hoarding, profiteering, and overcharging, and ensuring the availability of essential goods, especially wheat flour and perishables. He directed the Oil and Gas Regulatory Authority (OGRA) to minimize the disparity between the official and market prices of LPG cylinders. The Minister concluded by emphasizing the need for price monitoring efforts to not just focus on data collection but also on identifying the root causes of price surges and implementing corrective measures to safeguard consumer interests.