Russia's attack on Ukraine may burn a hole in your pocket too, daily items' prices set to rise
2 years, 8 months ago

Russia's attack on Ukraine may burn a hole in your pocket too, daily items' prices set to rise

India Today  

Food prices are surging globally, including in India, as the war in Ukraine blocks crop supplies to push inflationary pressure on the consumer pocket. Taking cues from the global situation, the Reserve Bank of India today raised the inflation forecast for the current fiscal year by 120 basis points to 5.7 per cent. After easing to 4.3 per cent in September 2021, retail inflation rose in the following months to reach 6.1 per cent in February 2022, driven mainly by the increase in food inflation. The retail price of tomatoes rose 36.2 per cent, vanaspati oil 26.42 per cent, masoor dal 19 per cent, potatoes 17.7 per cent, and onions 11.2 per cent year-on-year as of April 7. GLOBAL INFLATION IN A NUTSHELL The Eurozone recorded a lifetime high inflation rate of 7.5 per cent, while Turkey, Mexico, and Ireland recorded inflation rates that have been the highest in the last two decades.

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History of this topic

Wholesale food inflation cooled to 8.9% in November from 25-month high of 11.6%
Trending News
1 week, 1 day ago

Wholesale food inflation cooled to 8.9% in November from 25-month high of 11.6%

The Hindu  

India’s wholesale prices rose at a three-month low pace of 1.89% in November, easing from October’s 2.4% uptick, with food price inflation decelerating to 8.9% from a 25-month high of 11.6% in the previous month, even as manufactured products’ inflation accelerated to 2%. EDITORIAL | Price worries: On inflation Among manufactured products, some of the important groups that showed month-over-month …

Food prices reach 19-month high in November, UN says
2 weeks, 4 days ago

Food prices reach 19-month high in November, UN says

Live Mint  

Food prices climbed to a 19-month high in November driven by vegetable oils, data from the Food and Agriculture Organization of the United Nations showed on Friday. The FAO’s food price index, which tracks global prices for a basket of staple foods, averaged 127.5 points in November, a 0.5% increase from October’s level and 5.7% higher than a year earlier. …

India Expects Relief in Food Inflation with Strong Kharif Harvest
4 weeks, 1 day ago

India Expects Relief in Food Inflation with Strong Kharif Harvest

Deccan Chronicle  

As per the report, India’s retail inflation jumped to 6.21 percent in October, a 14-month high, driven by elevated food inflation in a few vegetables. A bumper kharif harvest is expected to lower food inflation in the coming months," it said, adding that a favourable monsoon, adequate reservoir levels and higher minimum support prices are likely to boost rabi sowing …

Rising food prices push India’s wholesale inflation to four-month high in Oct
Trending News
1 month, 1 week ago

Rising food prices push India’s wholesale inflation to four-month high in Oct

Live Mint  

India's wholesale price index -based inflation rose to a four-month high of 2.36% in October due to rising food prices, showed the ministry of commerce and industry's provisional data on Thursday. On a year-on-year basis, the core WPI print rose to 0.3% in October," said Rahul Agrawal, senior economist, Icra Ltd. Elevated food prices have also pushed India's retail inflation, …

Spectre of food inflation haunts the economy again
1 month, 1 week ago

Spectre of food inflation haunts the economy again

New Indian Express  

It appears that the common man will have to further tighten his consumption belt. Government data released Tuesday showed vegetable prices were the main culprit, as they shot up over 42 per cent in October from a year ago—higher than the 36 per cent rise in September. Coupled with oil prices rising 9.51 per cent, fruits, cereals and pulses, food …

India’s retail inflation surges to 6.2% in October
1 month, 1 week ago

India’s retail inflation surges to 6.2% in October

The Hindu  

A 10.9% spike in food prices lifted India’s retail inflation to a 14-month high of 6.2% in October, from 5.5% in September, with prices of vegetables and edible oils escalating at a sharp pace not seen in recent years. October’s price rise pace marked a breach of the Reserve Bank of India’s upper tolerance limit for inflation, with rural India …

Russians are running out of butter - supermarkets are locking it away from shoplifters
1 month, 2 weeks ago

Russians are running out of butter - supermarkets are locking it away from shoplifters

The Telegraph  

Russian butter prices are surging as Vladimir Putin prioritises defence spending over protecting his country from the impact of sanctions. The price of a block of butter has climbed by a quarter since last year, significantly higher than the inflation rate of 8.6pc, official statistics show. Draft documents in September showed the Kremlin’s plans to raise defence spending by a …

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says
3 months, 2 weeks ago

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says

The Hindu  

A sharp 51% drop in tomato prices aided in an 8% decline in average vegetarian meal costs through August but onion and potato prices surged more than 50% and the actual price paid by consumers for a vegetarian plate of food remained the second highest over the past year at ₹31.2, just 4% below July levels, as per Crisil’s monthly …

World food prices ease slightly in July, UN says
4 months, 3 weeks ago

World food prices ease slightly in July, UN says

Hindustan Times  

The United Nations world food price index eased slightly in July according to data released on Friday, with a decline in the index for cereals offset in part by increases for meat, vegetable oils and sugar. The FAO Cereals Price Index declined 3.8% to its lowest level in nearly four years with global export prices for all major cereals falling …

World food prices hold firm in June, UN's FAO reports
5 months, 2 weeks ago

World food prices hold firm in June, UN's FAO reports

Hindustan Times  

The United Nations world food price index held steady in June data showed on Friday, with increases in vegetable oil, sugar and dairy products offset by a fall in the price of cereals. The FAO index hit a three-year low in February as food prices receded from a record peak set in March 2022 following Russia's invasion of Ukraine. Cereal …

31%: The surge in food prices irking voters in the UK election
5 months, 3 weeks ago

31%: The surge in food prices irking voters in the UK election

Al Jazeera  

The cost of living is a key issue in an election expected to end 14 years of Conservative Party governance. While inflation has finally returned to the central bank’s target of 2 percent after hitting double-digit highs in 2022 and 2023, people are still paying much more for essentials, including food, than they were just a few years ago. Food …

‘Monsoon pause delays sowing, spikes food prices’
5 months, 4 weeks ago

‘Monsoon pause delays sowing, spikes food prices’

The Hindu  

The stalled monsoon has delayed Kharif crop sowing and the persistent heat wave in parts of India is fuelling food price hikes, particularly in vegetables, whose average retail prices rose by about 45.1% this month, economic researchers noted on Monday. Following a rapid onset to cover half the country in the first half of June, there was no further advance …

Wholesale price inflation rises to three-month high of 0.53% in March
8 months, 1 week ago

Wholesale price inflation rises to three-month high of 0.53% in March

The Hindu  

India’s wholesale price inflation rose to a three-month high of 0.53% in March from 0.2% in February, with the food index rising 4.65%, primarily led by cereals prices surging at a 12-month high pace even as the inflation in paddy, potato and onions accelerated. For the full year 2023-24, wholesale prices remained in deflationary mode, averaging -0.7%, the lowest pace …

Prohibitive price gains: On the Consumer Food Price Index
11 months, 1 week ago

Prohibitive price gains: On the Consumer Food Price Index

The Hindu  

Inflation measured by the Consumer Price Index expectedly quickened to a four-month high in December, with the measure of gains in food prices accelerating at a relatively faster pace as inflation in cereals and pulses stayed stubbornly sticky. While headline retail inflation ticked up by 14 basis points from November’s level to 5.69%, price gains measured by the Consumer Food …

Global food prices declined from record highs in 2022, the UN says. Except for these two staples
11 months, 2 weeks ago

Global food prices declined from record highs in 2022, the UN says. Except for these two staples

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Global food prices declined from record highs in 2022, the UN says. Except for these two staples
11 months, 2 weeks ago

Global food prices declined from record highs in 2022, the UN says. Except for these two staples

Associated Press  

ROME — Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was …

Acceleration foretold: On volatile food prices
1 year ago

Acceleration foretold: On volatile food prices

The Hindu  

November’s resurgence in headline retail inflation, while clearly not unexpected after the RBI just last week predicted a likely ‘uptick’, is a stark reminder of the risks volatile food prices pose. While the National Statistical Office’s provisional reading of headline inflation shows the Consumer Price Index rose by 5.55% year-on-year to a three-month high, from October’s 4.87%, food price gains …

Kremlin scrambled as egg prices in Russia soar by more than 40 per cent in a year
1 year ago

Kremlin scrambled as egg prices in Russia soar by more than 40 per cent in a year

The Telegraph  

Eggs are being sold individually in Russia after the cost soared amid high inflation rates linked to the war in Ukraine. The price of eggs in Russia jumped 13 per cent in October 2023 and another 15 per cent in November, according to Russia’s statistics agency. The Kremlin has sought to blame media hysteria and stockpiling for the price rises …

RBI chief warns about India's 'recurring' food shock problem
1 year, 1 month ago

RBI chief warns about India's 'recurring' food shock problem

India Today  

Despite recent declines in retail inflation, India remains susceptible to "recurring and overlapping" food price shocks, cautioned Reserve Bank of India Governor Shaktikanta Das. "In these circumstances, monetary policy remains watchful and actively disinflationary to progressively align inflation to the target, while supporting growth," Governor Das said in a speech delivered in Japan. While retail inflation eased to a three-month …

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war
1 year, 2 months ago

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war

Associated Press  

How do you cook a meal when a staple ingredient is unaffordable? At Nairobi’s major food market, Wakulima, the prices for onions from Tanzania were the highest in seven years, seller Timothy Kinyua said. Tanzania’s onion limits this year are part of the “contagion” of food restrictions from countries spooked by supply shortages and increased demand for their produce, said …

Retail inflation eases; food prices still bite
1 year, 3 months ago

Retail inflation eases; food prices still bite

The Hindu  

India’s retail inflation eased slightly to 6.83% in August, from the 15-month high of 7.44% in July, but the rise in food prices remained elevated at around 10% and rural consumers continued to face over 7% inflation. Inflation in cereals moderated marginally from around 13% in July to 11.85% in August but pulses prices maintained their pace, rising 13% again, …

Global rice prices surge 15-year high after India bans overseas rice exports: Report
1 year, 3 months ago

Global rice prices surge 15-year high after India bans overseas rice exports: Report

Hindustan Times  

Global rice prices reached a 15-year high in August after top exporter India banned some overseas sales of the grain, the Food and Agriculture Organization said on Friday. Representational image While global food prices eased in August, those of rice rose 9.8 percent compared to the previous month, "reflecting trade disruptions in the aftermath of a ban on Indica white …

Oilseeds and Pulses Vulnerable to Price Spikes: Report
1 year, 3 months ago

Oilseeds and Pulses Vulnerable to Price Spikes: Report

Deccan Chronicle  

Chennai: The threat of food price inflation has not waned yet as oil seeds and pulses are still vulnerable to erratic monsoon progression. Apart from a 37.3 per cent surge in vegetable prices, other sub-components like cereals, milk, pulses and spices also showed a significant rise. Given their relatively high reliance on imports, any decrease in domestic production could potentially …

Driven to tears: The Hindu Editorial on the government’s move to arrest prices
1 year, 3 months ago

Driven to tears: The Hindu Editorial on the government’s move to arrest prices

The Hindu  

With consumer food prices rising 11.5% in July, likely the third highest since the current retail inflation data series began in 2014, the government last Saturday made yet another gambit to arrest prices. These worries likely triggered the recent uptick in onion prices from around ₹23 a kilo two months ago to over ₹31 by this Monday. Relative to tomatoes, …

A rice shortage is sending prices soaring across the world. And things could get worse
1 year, 4 months ago

A rice shortage is sending prices soaring across the world. And things could get worse

Associated Press  

Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Wholesalers are yet to receive new stocks since India, the world’s largest exporter of rice by far, said last month that it would ban some rice shipments. It’s an effort by the world’s most populous nation to control domestic prices ahead …

A surge foretold: On inflation data
1 year, 4 months ago

A surge foretold: On inflation data

The Hindu  

The latest NSO data, showing retail inflation accelerating to a 15-month high, comes less than a week after the Reserve Bank of India left interest rates unchanged even as it warned of “a substantial increase in headline inflation” in the near term. The primary driver of this surge was the food price component, with the Consumer Food Price Index-based inflation …

High food prices may be the new normal
1 year, 4 months ago

High food prices may be the new normal

Hindustan Times  

A vegetable price shock has sent India’s benchmark inflation rate to a 15-month high of 7.4% in July. The jump in headline inflation came despite a moderation in core inflation, which measures the non-food non-fuel part of the Consumer Price Index basket. In the textbook world of inflation targeting, high inflation is taken as a sign of an overheating economy, …

WFP taps India for 200,000 tonnes of rice as global hunger worsens
1 year, 4 months ago

WFP taps India for 200,000 tonnes of rice as global hunger worsens

Live Mint  

New Delhi: The World Food Programme has sought 200,000 tonnes of rice for its humanitarian operations from India, the largest exporter of the commodity, amid what it called “catastrophic levels” of global food insecurity triggered by the covid-19 pandemic and the Ukraine war, two people aware of the development said. The request comes after the UN-brokered Black Sea grain deal, …

India should brace for a food inflation spike
1 year, 4 months ago

India should brace for a food inflation spike

Hindustan Times  

Most analysts expect India’s benchmark inflation measure, as measured by the Consumer Price Index to breach the 6% threshold in July. In July, tomatoes have played a big role, continuing to sell at very high prices, with signs that onions could generate additional tailwinds for food inflation. While price pressures from perishables such as onions and tomatoes will eventually die …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 4 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

LA Times  

A farmer works in a rice paddy in June on the outskirts of Guwahati, India. Global prices for food commodities including rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 4 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

Associated Press  

LONDON — Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly …

Food prices rise after Russia ends grain deal, India restricts rice exports
1 year, 4 months ago

Food prices rise after Russia ends grain deal, India restricts rice exports

Al Jazeera  

There are new risks to global food prices after Russia exited grain deal and India restricted some rice exports. Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice …

UN chief urges Russia to revive grain deal with Ukraine, warning ‘the most vulnerable’ will suffer
1 year, 4 months ago

UN chief urges Russia to revive grain deal with Ukraine, warning ‘the most vulnerable’ will suffer

The Hindu  

The U.N. chief on Monday urged Russia to resume the internationally brokered deal so that grain can be shipped from Ukraine’s Black Sea ports, saying that otherwise, the world’s most vulnerable among the hungry will suffer the worst consequences. With the recent collapse of the Ukraine-Russia grain deal, “the most vulnerable will pay the highest price,’‘ Guterres said. Both Russia …

UN chief urges Russia to revive grain deal with Ukraine, warning ‘the most vulnerable’ will suffer
1 year, 5 months ago

UN chief urges Russia to revive grain deal with Ukraine, warning ‘the most vulnerable’ will suffer

Associated Press  

ROME — The U.N. chief on Monday urged Russia to resume the internationally brokered deal so that grain can be shipped from Ukraine’s Black Sea ports, saying that otherwise, the world’s most vulnerable among the hungry will suffer the worst consequences. Both Russia and Ukraine are “essential to global food security,’' the U.N. leader said. “For my part, I remain …

Roiling resurgence: The Hindu Editorial on the Consumer Price Index data
1 year, 5 months ago

Roiling resurgence: The Hindu Editorial on the Consumer Price Index data

The Hindu  

The latest Consumer Price Index data showing a resurgence in retail inflation proves exactly why the RBI’s monetary authorities have reiterated the need to keep the policy approach firmly tilted towards ensuring price stability. The food price inflation was broad-based with 10 of the 12 sub-groups witnessing year-on-year increases: cereals registered 12.7% price gains, eggs logged 7%, dairy experienced 8.56% …

Russia’s threat to pull out of Ukraine grain deal raises food safety concerns
1 year, 5 months ago

Russia’s threat to pull out of Ukraine grain deal raises food safety concerns

The Hindu  

Concerns are growing that Russia will not extend a United Nations-brokered deal that allows grain to flow from Ukraine to parts of the world struggling with hunger, with ships no longer heading to the war-torn country’s Black Sea ports and food exports dwindling. Russian intentions If the deal isn’t extended, “the countries that had relied on Ukraine for their imports …

Price caps will create food shortages, Rishi Sunak warned
1 year, 6 months ago

Price caps will create food shortages, Rishi Sunak warned

The Telegraph  

Rishi Sunak has been warned his plan for “1970s-style” price caps will lead to food shortages amid a backlash from cabinet ministers and supermarkets. One cabinet minister told The Telegraph that price caps, last used in Britain in the 1970s, would not work “in this day and age” and that produce would be “sold elsewhere” if supermarkets refused to increase …

Food prices fall on world markets but not on kitchen tables
1 year, 7 months ago

Food prices fall on world markets but not on kitchen tables

Associated Press  

A restaurant on the outskirts of Nairobi skimps on the size of its chapatis — a flaky, chewy Kenyan flatbread — to save on cooking oil. In the United States, where food prices were up 8.5% last month from a year earlier, he says that “75% of the costs are coming after it leaves the farm. Glauber, now a senior …

Is the supermarket milk price war a sign food prices could FINALLY fall from current record highs?
1 year, 8 months ago

Is the supermarket milk price war a sign food prices could FINALLY fall from current record highs?

Daily Mail  

Four supermarkets have slashed the price of milk this week, with the competition leading to hopes record food prices could finally start to fall. Talking shop: The price of supermarket groceries has soared, leaving households paying record prices for their weekly shop Tesco led the charge on Wednesday, reducing the price of a four-pint carton of milk from £1.65 to …

Year of war in Ukraine left developing nations picking up pieces
1 year, 10 months ago

Year of war in Ukraine left developing nations picking up pieces

Al Jazeera  

Some of the harshest economic effects of the war are being felt much farther afield than Russia’s theatre of battle. Given the complex interplay between geopolitics, commodity prices and financial markets, Russia’s invasion sent shockwaves across the global economy, including developing countries. “The international community needs to adopt a portfolio approach to improve food resilience in developing countries,” Torero said, …

War in Ukraine at 1 year: Pain, resilience in global economy
1 year, 10 months ago

War in Ukraine at 1 year: Pain, resilience in global economy

Associated Press  

An Egyptian widow is struggling to afford meat and eggs for her five children. “It’s become unbearable,” Rabie said, heading to her job as a cleaner at a state-run hospital in Cairo’s twin city of Giza. “Meat and eggs have become a luxury.” In the United States and other wealthy countries, a painful surge in consumer prices, fueled in part …

War in Ukraine at 1 year: Pain, resilience in global economy
1 year, 10 months ago

War in Ukraine at 1 year: Pain, resilience in global economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Meat and eggs have become …

World food prices hit record high in 2022 despite December fall
1 year, 11 months ago

World food prices hit record high in 2022 despite December fall

Hindustan Times  

World food prices eased in December marking the ninth consecutive monthly fall, but gained more than 14% in 2022 compared to the previous year, to reach the highest since records began, the U.N. food agency said on Friday. The Food and Agriculture Organization's food price index, which tracks international prices of the most globally traded food commodities, averaged 132.4 points …

Ukraine slams India for buying Russian oil, calls it 'morally inappropriate'
2 years ago

Ukraine slams India for buying Russian oil, calls it 'morally inappropriate'

New Indian Express  

A day earlier India's top diplomat had defended the purchases of discounted Russian crude, saying Europe's imports still dwarfed those of his country despite the continent's efforts to reduce its dependence. But Ukraine's Dmytro Kuleba told NDTV it was "completely wrong" to justify buying oil from Russia "by arguing that Europeans were doing the same." India has increased its purchases …

Russia-Ukraine grain deal extended in win for food prices
2 years, 1 month ago

Russia-Ukraine grain deal extended in win for food prices

Associated Press  

ANKARA, Turkey — A wartime agreement that unblocked grain shipments from Ukraine and helped temper rising global food prices will be extended by four months, the United Nations and other parties to the deal said Thursday, preventing a price shock to some of the world’s most vulnerable countries where many are struggling with hunger. Ukrainian President Volodymyr Zelenskyy called the …

UK inflation accelerates to 40-year high as food prices rise
2 years, 2 months ago

UK inflation accelerates to 40-year high as food prices rise

Associated Press  

LONDON — British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents. “In today’s society, I find that completely unacceptable.” Hunt this week told the House of Commons that the government would …

How everyday food items have risen in price in the past 12 months
2 years, 2 months ago

How everyday food items have risen in price in the past 12 months

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The cost of food and …

Food prices to stay sticky, may keep inflation around 7% in Q3 too
2 years, 2 months ago

Food prices to stay sticky, may keep inflation around 7% in Q3 too

The Hindu  

The poor are facing a higher inflation burden due to the surge in food prices, especially for items like cereals and vegetables, which are unlikely to cool off soon owing to unseasonal rainfall and lower Kharif crop sowing, according to economists. “Essential items, such as food and fuel, occupy a greater share in the consumption basket of lower-income classes… Across …

Soaring rent, food costs keep US consumer inflation high
2 years, 2 months ago

Soaring rent, food costs keep US consumer inflation high

Al Jazeera  

The rising rent and food prices reinforce expectations that the US Fed will raise interest rates again next month. US consumer prices increased more than expected in September as rents surged by the most since 1990 and the cost of food also rose, reinforcing expectations the Federal Reserve will deliver a fourth 75-basis-point interest rate rise next month. The data …

Adverse Base Effect, Food Prices Raise Retail Inflation In August: Finance Ministry
2 years, 3 months ago

Adverse Base Effect, Food Prices Raise Retail Inflation In August: Finance Ministry

News 18  

The headline inflation, based on the retail Consumer Price Index, rose to 7 per cent in August 2022 due to an adverse base effect and an increase in food & fuel prices. “The headline inflation based on retail CPI recorded a moderate increase from 6.71 per cent in July 22 to 7.0 per cent in August 22. The finance ministry …

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