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Wholesale Price Inflation Hits 9-Month High in December
The positive inflation rate in December is attributed to increases in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, according to the Commerce ministry. Wholesale food prices saw a 9.38% increase, while fuel group prices declined by (-) 2.14%.
Government Attributes Controlled Headline Inflation to LPG Price Reduction and Vegetable Price Adjustment
The report highlights that headline inflation has returned to a controlled state, driven by corrections in vegetable prices and recent reductions in LPG (liquefied petroleum gas) prices.
Onion prices dip after hike in minimum export price: Govt
"The Government’s decision to impose Minimum Export Price of $800/ton on onion with effect from 29th October 2023 till 31st December 2023 to discourage exports and maintain availability in domestic markets has shown an immediate impact of price correction in Maharashtra markets, where prices recorded a decline of 5 per cent to 9 per cent from the highest price registered during last week," an official statement said.
Govt notifies minimum export price of $800 per metric tonne on onion
The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored Rabi 2023 onion is declining by curbing the quantity of onion exports.
Onion prices up, selling at Rs 50-80 per kg across NCR
While the staple vegetable was selling at Rs 35 to 40 per kg last week, the prices are touching Rs 50-80 across Delhi-NCR now.
Inflation fell to 3-month low of 5% in Sep
Food inflation, which accounts for close to half of the overall consumer price index (CPI), slowed to 6.56 per cent in September from 9.94 per cent in August. There was a sharp correction in the prices of vegetables, such as tomatoes and onions.
Onion wholesellers in Nashik go on indefinite strike to protest export duty hike
The hike in the export duty will make it difficult to export the vegetable and entails huge losses for the farming community, already reeling under a truant monsoon this year.
Not just tomatoes: Wider range of food items drive 7%-plus inflation
This raises the likelihood of inflation remaining above 7 per cent in August, said a research report by broking firm, Prabhudas Lilladher.
Govt to sell tomatoes at Rs 40 per kg from Aug 20
NAFED and NCCF have been directed by the consumer affairs department to sell tomatoes at Rs 40 per kg from August 20, in view of continued decline in tomato prices in wholesale and retail markets.
Centre directs NAFED, NCCF to sell tomatoes at Rs 50 per kg
Incidentally, the direction has come on a day when India's retail inflation measured by consumer price index (CPI), saw a huge rise to 7.44 per cent in July owing to hike in food prices, as food inflation also witnessed a massive jump of 11.51 per cent, owing to high prices of commodities like tomatoes, cereals, pulses and milk products.
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