Islamabad Has the Highest Prices for Beef and Mutton in the Country

The prices of mutton have fluctuated somewhat significantly relative to the price of beef across the years, despite experiencing similar overall inflation, according to a survey by Gallup Pakistan. This analysis by Gallup Pakistan provides a comprehensive view of the evolving economic landscape, emphasizing its impact on the cost of living for the citizens of Pakistan. The analysis, covering the period from February 2020 to December 2023, is looking into the price volatility of the 51 essential commodities, across 17 cities recorded under the SPI. This press release focuses on the comparative prices of 1kg of average-quality Beef (with bone) and Mutton. Bilal I. Gilani, Executive Director Gallup Pakistan added, “Gallup Pakistan’s Digital Analytics team is working on analyzing the Consumer Price Index and its sub-component Sensitive Price Index. As part of this analysis here, we look at three main things: How prices of the 51 products that comprise SPI vary within the 17 cities from which data is gathered. Secondly, which cities tend to have the cheapest rates, and thirdly, how over the past three years (Since Feb 2020), the rates have changed for each of these 17 cities. We feel that a greater and deeper understanding of inflation and how it is felt by the poor will lead to better policy making to address the runaway inflation faced by Pakistan with no end in sight”. In December 2023, the average price for 1kg of average quality Beef (with bone) was recorded to be Rs. 824.8, while the price for 1kg of average quality Mutton was Rs. 1,708.93. Across the 17 cities for which data is available, the highest prices for both products were recorded in Islamabad at Rs. 1,045.15 for Beef, and Rs. 2,044.86 for Mutton, while the lowest prices were recorded in Bannu at Rs. 700 and Rs. 1,400 respectively. Variation from Average Price in December 2023: Prices for a kg of Beef varied by Rs. 345.15, while those for Mutton varied by Rs. 644.86 across the 17 cities recorded.  For Beef, the greatest differences from the average price were recorded in Islamabad at Rs. 220.35, a variation of 26.7% from the average price, followed by Rs. 145.82 above the average price in Rawalpindi. The maximum variation in prices for 1kg of Beef (with bone)  across the 17 cities was recorded at Rs. 345.15. From the 17 cities, the price for a kg of Beef (with bone) was recorded to be higher than the average price in Islamabad, Rawalpindi, Karachi, Lahore, Quetta, Faisalabad and Gujranwala. Prices were lower than the average in Multan, Sargodha, Sialkot, Larkana,  Bahawalpur, Khuzdar, Hyderabad, Sukkur, Peshawar, and Bannu. For Mutton, the greatest differences from the average price were recorded in Islamabad, at Rs. 335.93 – 19.66 percent – above the average, and in Lahore where it was Rs. 323.86 above the average. The maximum variation in prices for 1kg of Mutton across the 17 cities was recorded at Rs. 644.86. From the 17 cities, the prices for a kg of Mutton were recorded as above the average price in Islamabad, Lahore, Rawalpindi, Faisalabad, Karachi, Gujranwala, Sialkot, Multan, Larkana, and Quetta, while prices were lower than average in Peshawar, Hyderabad, Bahawalpur, Sargodha, Khuzdar, Sukkur and Bannu. Comparison between prices in February 2020 and December 2023: Islamabad saw the highest increase in price of Beef, and the lowest increase was recorded in Bannu. While  Lahore experienced the highest hike for price in Mutton, and Sargodha the lowest since  Feb 2020.  The average price of a kg of Beef (with bone) in February 2020 was recorded to be Rs. 432.99, increasing to Rs. 824.8 by December 2023, experiencing a hike of Rs. 391.81. In terms of price increase, the greatest increase was recorded in Islamabad at Rs. 532.02, while the lowest was recorded at Rs. 300 in Bannu. The average price of a kg of Mutton in February 2020 was recorded to be Rs. 892.83. This increased to Rs. 1,708.93 by December 2023, experiencing a hike of Rs. 816.11. In terms of price increase, the greatest increase was recorded in Lahore at Rs. 1,066.41, while the lowest was recorded at Rs. 570.63 in Sargodha. Among the 17 cities tracked, the greatest increase in terms of percentage change of price was recorded in Bahawalpur at 117.65% for Beef, and 110.35% in Lahore for Mutton.  In terms of percentage change in price, the average price of a kg of Beef (with bone) increased by 90.49% from February 2020 to December 2023. Among the 17 cities tracked, the greatest increase was recorded in Bahawalpur at 117.65%, and lowest at 68.49% in Hyderabad. For a kg of Mutton, the percentage increase in average price was 91. 41% from February 2020 to December 2023. Among the 17 cities tracked, the greatest increase was recorded in Lahore at 110.35%, and lowest at 60.07% in Sargodha. Price of Mutton in relation to the price of Beef, since February 2020: The price of Mutton has fluctuated somewhat significantly relative to the price of Beef across the years, despite experiencing similar overall inflation.  While the average prices of a kilogram of Beef and Mutton have increased by 90.49% and  91.41% respectively, since February 2020, it is worth noting that the prices in relation to one another have fluctuated over time. 1kg of Mutton cost 2.06 times as much as a kg of Beef in February 2020 on average. This ratio is somewhat similar in December 2023 having increased to only 2.07 times. However, the prices for the two meats were closest in November and December 2021 at a relative price ratio of only 2.01, and the farthest in May 2023, at a relative price of 2.12. The details for the prices of Beef and Mutton across all 17 cities in February 2020 and December 2023 as recorded by the PBS are given in Annexures A and B on the next page, along with the calculations of change in price, and percentage change in price calculated by the Gallup Pakistan team. Moreover, the average prices of Beef and Mutton since February 2020 as reported by PBS