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LATEST NEWS UPDATES | Why is your tadka getting more & more expensive? Blame India’s reliance on edible oil imports -Nikhil Rampal

Why is your tadka getting more & more expensive? Blame India’s reliance on edible oil imports -Nikhil Rampal

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published Published on May 21, 2022   modified Modified on May 22, 2022

-ThePrint.in

Indians spending 14% more on edible oil compared to last year. Experts expect a cooldown if no shocks prevail, government says ‘situation under control’.

New Delhi: A bottle of cooking oil is a constant in every Indian kitchen, but its price is not.

According to data sourced from the Department of Consumer Affairs, by 16 May, consumers in the country were spending an average of 14 per cent more, or an extra Rs 22 per kilogram, on edible oil than what they were paying a year ago.

The average is based on the prices of six varieties of edible oils monitored by the department — groundnut, mustard, palm, vanaspati (vegetable oil), soya and sunflower oil.

Latest data on retail inflation — which is based on the Consumer Price Index (CPI) — released by the Ministry of Statistics and Programme Implementation (MoSPI) shows that inflation in edible oil prices has been disproportionate to the overall inflation rate in the country.

In April this year, retail inflation grew by 7.79 per cent (which means that general prices across the country are 7.79 per cent higher than what they were in the same month last year). However, the price rise in edible oils was reported to be 17 per cent for the same period, according to MoSPI data, more than double the rise in general prices. 

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ThePrint.in, 21 May, 2022, https://theprint.in/india/why-is-your-tadka-getting-more-more-expensive-blame-indias-reliance-on-edible-oil-imports/963947/?fbclid=IwAR2yqdayAG1-A620biADzA5fnwhrZnEh06k6H91slqpajBCvkrwm81JfrHY


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