Achi news desk-
According to the latest government data, food inflation in the country was 7.76 percent in February 2024.
After the bi-monthly meeting of the Monetary Policy Committee (MPC), Reserve Bank of India (RBI) Governor Shaktikanta Das said that vegetable prices in the country may be affected due to the India Meteorological Department’s (IMD) forecast of severe heat waves during the April-June quarter. of the current calendar year. Earlier this week, the Indian Meteorological Department (IMD) predicted that many parts of the country are likely to witness heat waves during the summer season (April to June).
Das refused to admit that heat waves would affect wheat availability.
“So we need to see what effect it has on food crops, and I mentioned key vegetables. Regarding wheat crops, our information is that, by and large, the harvest is over. In the central part of India, it is completely over, and even in other places, by and large, the wheat harvest is over,” he said during the media interaction after The announcement of the first bimonthly monetary policy for the years 2024-25.
The price of wheat in the last year has remained somewhat volatile, but due to several measures taken by the government, wheat prices are currently around 30 rupees per kg.
RBI Deputy Governor Michael Petra said that food inflation has been very volatile in the recent past and is expected to remain high due to adverse climatic condition. He added that recently, food prices have remained high mainly because of the high prices of eggs, meat, fish, rice, grains and vegetables.
According to a report by the local credit rating agency, Crisil, prices of vegetables such as potatoes, tomatoes and onions rose by 22%, 36% and 40%, respectively.
According to the latest government data, food inflation in the country was 7.76 percent in February 2024. The CPI inflation printout for March 2024 is due next week.
Posted: April 5, 2024, 4:07 PM IST
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