After lemons, now tomatoes are burning a hole in pockets: What’s up with India’s food inflation?
FirstpostThere’s no respite from food inflation in India. India’s food inflation continues to be a concern: From February to April 2022, food prices rose 7.3 per cent on average. In Mumbai and Kolkata, it’s 77 per kg in Mumbai as compared to Rs 28 and Rs 38 respectively last year, according to data compiled by the food ministry. It currently stands at Rs 18 per kg in Mumbai as against Rs 25 a year ago and Rs 23 per kg in Kolkata as compared with Rs 27 per kg last year, reports News18. Madhavi Arora, the lead economist at Emkay Global Financial Services, told News18, “While fruits may see seasonal swings ahead, edible oils and cereals may stay high going ahead as well, owing to the Indonesia ban and heatwaves, respectively.” Arora added that while pulses, sugar, and vegetables were sequentially lower, mandi prices show select pressure on vegetable prices in the coming month even as other perishables may remain high.