Increase of Onion Prices in Most Indian Cities
Wholesale price inflation (WPI) -based inflation reached 8-month high in November. Onion prices rise; The WPI inflation in the vegetable segment was at 3.93 per cent.
In October this year, it was 3.59 per cent and 1.82 per cent in November last year. The monthly statistics of the current financial year are the highest in November. It was 3.85 per cent in April. The latest figures show that retail inflation was at 15-month high of 4.88 percent in the previous two days.
* Onion became dearer by 178.19 percent last month.
Vegetables became costlier by 59.80 per cent, while inflation in October was revised upwards to 36.61 per cent.
Eggs, meat and fish were also up by 4.73 per cent. However, the prices have risen by 5.76%.
Your overall food segment (including manufacturing goods) was 3.23% in October and 4.1% in November.
The rise in the exchanges exchange rate on the import bill may have impacted petrol and diesel rates due to international crude oil rates. The government should see the negative effect. It can be stressed on the prices of raw materials. It looks on the profitability of the companies already.
The yield in the Rabi season is relatively low compared to last year. There are more opportunities to increase inflation. Crude oil prices have been steadily rising since OPEC member states cut short of oil production.