CONTINUATION OF PUBLIC PROCUREMENT OF FOODGRAINS IS A SAVING GRACE
Prabhat Patnaik
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2023-09-22 12:27
The current upsurge in prices in India is led by food prices. In July 2023 while retail inflation was 7.44 per cent (over July of the previous year), food price inflation, which covers all food items including foodgrains, vegetables, milk products and such like, was 11.5 per cent. Food price inflation came down a little in August to around 10 per cent, largely because of some supply management measures adopted by the government relating to vegetables like tomatoes, and this was responsible for bringing down the overall retail inflation rate to 6.83 per cent; but obviously food price inflation, and with it overall retail inflation, continues to remain a serious problem.