Food inflation in India falls to three-month low 9 percent in November 2024With the decline in vegetable prices 29.3 percentbelow from 42.2 percent In October. However, despite this decline, a closer look reveals that many winter vegetables are significantly more expensive than in previous years.
Mixed trend seen in winter vegetables
out of 19 categories In the basket of inflation, High prices were recorded in 10And 17 categories faced with double digit inflation in November. Some notable trends include:
- Garlic Highest inflation recorded 85.1 percentCompared to 82.8 percent In October.
- Potato experienced inflation of 66.6 percentWhich is the highest level in almost four years.
- Cauliflower And Cabbage saw inflation 47.7 percent And 43.6 percentRespectively, both at multi-year highs.
- carrot prices grew fastest in 32 monthsAs inflation increases 33.4 percent From 22.8 percent In October.
- Spinach (Spinach) and other leafy vegetables encountered 24.6 percent inflation rateThe highest in more than a decade.
Although tomato prices relieved from a wobble 110 percent Inflation in October, they still recorded high 41 percent in November.
market price trends
The average market price of carrots was 18 percent more In December, compared to the same period last year, persistent price pressure for some vegetables was further underlined.
Retail inflation and RBI’s response
Overall retail inflation fell 5.5 percent In November, below 6.2 percent In October. Despite this improvement, increased food prices have driven this Reserve Bank of India (RBI) To maintain caution.
- RBI kept policy rate unchanged But 6.5 percent During its December Monetary Policy Committee (MPC) meeting, marking the eleventh consecutive break,
- RBI has revised its inflation forecast for FY25 upward 4.8 percent from the first launch of 4.5 percent,
conclusion
While food inflation is showing signs of easing, persistently high prices of essential winter vegetables are putting pressure on household budgets. The RBI’s cautious stance reflects the challenges of balancing inflation control with economic growth.
