Vegetable and pulse prices fuel retail inflation: PHD Chamber

04 September 2023, New Delhi: Jump in the prices of vegetables, cereals, pulses, and spices vis-à-vis supply disruptions due to abnormal monsoon behavior in many parts of the country stoked retail inflation. The vegetable inflation rate increased from 0.93% in June 2023 to 37.34% in July 2023. The inflation rate of pulses and products increased from 10.53% in June 2023 to 13.27% in July 2023. The inflation rate of cereals and products increased from 12.71% in June 2023 to 13.04% in July 2023. The inflation rate of Spices increased from 19.19% in June 2023 to 21.63% in July 2023, said Mr. Saket Dalmia, President, PHD Chamber of Commerce and Industry.

The flood situation in many vegetable producing States disrupted supplies of food products and pushed the prices to a significantly high level, he said.

However, the CPI inflation in clothing and footwear, housing, fuel, and light has come down from its level of June 2023, said Mr. Dalmia.

The inflation rate in clothing and footwear decelerated from 6.19% in June 2023 to 5.64% in July 2023. The inflation rate in housing decelerated from 4.56% in June 2023 to 4.47% in July 2023. The inflation rate in fuel and light decelerated from 3.92% in June 2023 to 3.67% in July 2023.

As monsoon behavior has stabilized in recent weeks, the prices of food products have also started softening and inflation trajectory is expected to come down in the coming months, said Mr. Dalmia.

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