Food Inflation

The move to lower duties is in total contrast with the mood prevailing in the market which was expecting a duty hike

Food inflation, which accounts for nearly half of the overall consumer price basket, is expected to have moderated due to falling vegetable prices, offset in part by surging cereal prices

Its average citizen is more affected than people in peer economies

Industry asks government to consider imports as the season of abundant stocks fails this year

Prices of refined sugar surged to the highest in more than a decade this week, while the raw variety is near to the costliest in over six years

The "storm clouds of food inflation" and drum beats of recession in parts of the world continue in 2023 but FMCG major Nestle India is prepared to stay anchored through various measures it has undertaken, according to the company's Chairman Suresh Narayanan. In his address to shareholders in the company's latest annual report, Narayanan, who is also the Managing Director, said, "at such times, being boringly consistent matters more than being brilliantly erratic." The company's "steadfast focus" on building volumes, expanding in smaller towns and villages under its "RURBAN' strategy with innovations along with "astutely" managing value and simultaneously nudging the premiumisation trend that is driving economic recovery in parts and will fuel momentum, he said. On the future outlook, Narayanan said, "as we look confidently at the year ahead, the storm clouds of food inflation, acceleration of war and indeed the drum beats of recession in parts of the world continue to surround ...

Retail inflation: his is lower than 6.52 per cent in January but still above the Reserve Bank of India's upper tolerance limit of 6 per cent

Globally, too, sticky inflation seems to be a cause for concern. Last week, two Federal Reserve (US Fed) officials suggested that the US central bank may need to keep interest rates elevated ahead

A number of economists had pointed out that January's retail inflation data may have been overestimated by 23 basis points owing to a variation in the price index for cereals

In December, the CPI-based inflation was 5.72% with core inflation at 6.10%

Core inflation, which excludes volatile food and fuel prices, was still running at 6.10% in December, which makes it difficult for the RBI to look away and to keep the tightening cycle going

'Targeting 11 countries, the contribution allows WFP to provide life-saving assistance at a time when humanitarian needs continue to soar'

Inflation being driven by cereals, spices, milk, prepared meals and snacks

Gulati says he is in support of GM mustard, but to say that it will solve India's problem of edible oil imports is a stretch

Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia's war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, dipped by 1.9% in December from a month earlier, the Rome-based organisation said Friday. For the whole year, it averaged 143.7 points, more than 14% above the 2021 average, which also saw large increases. The December decline was led by a drop in the price of vegetable oils amid shrinking import demand, expectations of increased soy oil production in South America and lower crude oil prices. Grain and meat were also down, while dairy and sugar rose slightly. Calmer food commodity prices are welcome after two very volatile years, FAO chief economist Maximo Torero said in

Retail inflation for industrial workers eased to 5.41 per cent in November compared to 6.08 per cent in October this year mainly due lower prices of certain food items. "Year-on-year inflation for the month stood at 5.41 per cent compared to 6.08 per cent for the previous month (October 2022) and 4.84 per cent during the corresponding month (November 2021) a year before," a Labour Bureau statement said. Food inflation stood at 4.30 per cent in November 2022 against 6.52 per cent of the previous month (October 2022) and 3.40 per cent during the corresponding month (November 2021) a year ago. The All-India CPI-IW (Consumer Price Index-Industrial Workers for November, 2022 remained stationary at 132.5 points compared to October 2022. The maximum upward pressure in current index came from Miscellaneous group contributing 0.21 percentage points to the total change. At item level, wheat, wheat atta, buffalo milk, cow milk, dairy milk, eggs hen, sunflower oil, onion, chillies dry, cooked

The retail inflation rate in wheat rose to 19.67 per cent in November from 17.64 per cent in October

Retail inflation in India has finally come under the comfort zone of the RBI. But the relief may be short-lived, as high global fertilizer prices can affect India's food inflation in the long run

Fruits and vegetables, protein-rich items such as eggs, meat and fish drag down prices; Core inflation eases for seventh consecutive month to 3.5%

An IMF paper sheds light on the issue of persistently high global food inflation, and the prognosis is not comforting