High Vegetable Rates Push Food Inflation to 19.05%
Rapidly rising prices of potatoes, onions and pulses have nudged the food inflation higher, which has now hit a new high of 19.05% in the fourth week of November, thereby increasing pressure on the Government to control the rates of essential commodities and foods.
For the previous week, the inflation was recorded as 17.47%.
Overall wholesale price index-based inflation, although, stood firm at 1.34% for the month of October.
On January 29, the Reserve Bank of India is all set to review its current lenient and easy monetary policies, and RBI Governor D Subbarao has asserted that the WPI is "quite modest" when compared to the current consumer prices. Congress President Sonia Gandhi, while expressing her worry over the rising inflation has said, "price rise of essential commodities continues to be a matter of highest concern to us".
As per the official data shared, the price of potatoes has more than doubled in a year, and onions have gained 23%, while other commodities like rice, wheat and pulses have all recorded gains in prices. Fruits are costlier as well.
Authorities have promised that "every possible step" will be taken to try and curb the problem.
