People may be hit by inflation in the coming days. In recent weeks, prices of major vegetables like potato, onion, tomato have increased, the effect of which can be seen on the food inflation rate. Food inflation may remain high.
33 percent increase on an annual basis: According to the January data released by the Department of Consumer Affairs, the retail prices of potatoes have increased by 33 percent on an annual basis and it is currently being sold at Rs 20 per kg. . At the same time, onion prices have increased by 20 percent and have reached Rs 30 per kg.
Onion prices increased by up to 74 percent: In October 2023, onion prices increased by up to 74 percent, after which the central government banned the export of onions. Similarly, the prices of tomatoes have increased by 50 percent on an annual basis and it is being sold in the retail market for up to Rs 30 per kg.
Inflation will increase further: Experts say that the prices of vegetables like tomatoes and potatoes may see a further increase in the next few months. Tomato, potato and onion account for 0.6 per cent, 1 per cent and 0.6 per cent respectively in the inflation rate. In such a situation, if the prices of these vegetables increase, then a sharp rise in food inflation may also be seen.
Retail inflation rose to a four-month high of 5.69 percent last month due to rising food prices in December. The Reserve Bank of India has retained the retail inflation projection for the current financial year 2023-24 at 5.4 percent.
Food inflation trend this year
December 9.53 percent
November 8.70 percent
October 6.61 percent
September 6.62 percent
August 9.94 percent
July 11.51 percent
The government took these steps: The central government is trying to control retail inflation as soon as possible. The government is making every possible effort for this. During the last few months, the government has sold everything from onion to tomato. To save the common people from the blow of inflation, cheap flour and pulses are being sold.
