Aug 17, 2023
By: Katya NaiduIt’s safe to say that inflation in India is going bananas – as the price of this poor man’s breakfast has shot up to ₹100 per kilo.
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Supplies from Tamil Nadu, the state which produces the most bananas, have dried up, said a report by Economic Times.
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Apart from fulfilling daily potassium needs, this nutritious fruit is also extensively used for poojas during festivals and that will keep its prices northward say traders.
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The festival season is kicked off by Rakhi by the end of August and will continue till November with Ganesh Chathurthi, Dussehra and Diwali in between.
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This festival, get ready for pricier kheer as well — as milk prices inflated by 8.3 percent in July. Cereal prices went up by 13.3 percent and pulses by a similar percentage.
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Spices could bring more tears to Indians than they normally do – their prices will hurt as much as their flavour. They inflated by 21 percent in July and will also see more demand from August on.
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It’s not just households but even the restaurant industry has been heavily hit by the rise of vegetable prices— eating into their margins, and a few are taking interesting measures to stem it.
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Tomato prices are still in the stratosphere with little signs of coming down – which triggered Burger King to “send tomatoes on vacation”.
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The government has been trying to help control inflation with imports, sourcing directly from producer states, open market sales and more. Economists believe that the effect of the measures can be seen only in September.
Credit: IANS