New Delhi: At a time when the economy of the country is going through a rough phase, the retail inflation for the month of October has surged to 4.62 per cent, official data showed on Wednesday. The surge in inflation is mainly due to rising prices of food and especially onion.
The inflation in the food basket went up to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month. The RBI, meanwhile, has been asked to keep the retail inflation at around 4 per cent.
However, the retail inflation in September had gone up to 3.99 per cent due to higher prices of food items. It was not a matter of concern last month as it was close to the RBI’s target level of 4 per cent. The consumer price index (CPI) based inflation was registered at 3.28 per cent in August. In September last year, it was 3.7 per cent.
Data from the Ministry of Statistics and Programme Implementation (MoSPI) showed that food prices, which is the parameter to measure changes in kitchen budgets, grew 5.11 per cent in September as against 2.99 per cent in the preceding month.
However, the inflation rate in cereals and other products stood at 1.66 per cent in September against 1.3 per cent in August while vegetable inflation stood at 15.4 per cent in September against 6.9 per cent in August.
Pulses and products recorded an inflation of 8.4 per cent in September against 6.94 per cent in August.
Meanwhile, the prices of onion kept rising across the country. A number of places across the country have been affected by the rising prices of onion. Starting from Dehradun, Prayagraj, Chandigarh, and Odisha to Chennai and Trivandrum, every place is facing the same problem. The national capital is the worst hit with the price touching at 100 per kg.
The prices onions have drastically increased in Trivandrum recently with reaching Rs 100 per kg. Down South Chennai is not left behind when it comes to the price rise of onion. The prices of vegetables, primarily onions, have drastically increased in Chennai because of the heavy rains and floods.
In Dehradun, people there have been badly affected by the rising prices of onions. The wholesale rate of onion is close to Rs 50 per kg in Dehradun.
(With inputs from ANI, PTI)