India's July consumer price food inflation has risen to 11.51 percent from a year ago, its highest rate in three and a half years. The last time food inflation was above this rate was in December 2019. The price of cereals, pulses, vegetables and spices helped push food inflation into double digits. The Consumer Price Index (CPI) for July is 7.44 percent, up from 4.87 percent in June. High food inflation...
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Explainer: Why are Tomato Prices on Fire?
Tomato prices are up through the roof. Retail prices are in the range of Rs 120-150 per kilogram in most mandis across India, making the household vegetable more expensive than petrol. Prices, which at the beginning of the year were in the range of Rs. 25 a kg, have increased by an order of between 500-600 percent. What does the data show? The National Horticultural Board is a body under the...
More »El Nino: How the climate pattern may prolong food inflation
Deutsche Welle/The Telegraph El Nino, a natural climate phenomenon that alters global weather patterns, has officially returned after four years, threatening to exacerbate already elevated food inflation. Growing warnings about El Nino have already helped coffee, sugar and cocoa prices to rise sharply in recent weeks, Germany's biggest private lender, Deutsche Bank, said in a research note last week. Other food commodities are expected to follow as harvests get impacted by severe...
More »Wholesale Price Inflation in negative territory, hits three year low of -3.48% - PTI/Deccan Herald
Wholesale price-based inflation rate declined by (-) 3.48 per cent in May, a 3-year low, on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation rate has been in the negative territory for the second straight month. In April it was (-) 0.92 per cent. In May, 2022 WPI inflation was at 16.63 per cent. The May, 2023 data print of (-) 3.48 per cent...
More »Commodity prices have brought inflation to its lowest in months in India - Mimansa Verma
Quartz India Easing global commodity prices have begun to reflect on inflation in India, at both the wholesale and consumer levels. Wholesale price rise in April fell into negative territory for the first time since July 2020, to -0.92%, government data showed yesterday (May 15). It stood at 15.38% in the same month last year. The decline in inflation in goods sold in bulk was primarily driven by a fall in the...
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