From Financialexpress · Sandip Das · · 50s
Food inflation worries grow as prices surge
Elevated food prices threaten to push inflation higher this month.
In brief
Elevated food prices threaten to push inflation higher this month. Rising retail prices for onions, sugar, and rice could increase food inflation to 6% by October as the government offloads stock. Originally reported by Financialexpress.
Key food prices rise sharply
Retail prices for onions, sugar, and mustard oil increased 100%, 19%, and 8% year-on-year.
Food inflation hits 5.95% in August
August food inflation rose to 5.95% compared to the previous year due to costlier ginger, garlic, onion, sugar, chicken, and edible oils.
Government offloads onion stock
The government started offloading onions at Rs 35/kg to curb price rises until the kharif harvest arrives.
Kharif crops boost prices in Maharashtra
Average mandi prices in Maharashtra dropped 13% to Rs 400/quintal due to fresh kharif crops in Karnataka, Andhra Pradesh, and Rajasthan.
What to remember
Rising retail prices for onions, sugar, and rice could increase food inflation to 6% by October as the government offloads stock.
