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<ul><li>Retail inflation in October was at a three-month low from a five-month high of 7.41 per cent in September.</li><li>At 6.77 per cent, October's retail inflation is still above the RBI's tolerance band of 6 per cent. </li><li><keyword id="67286" type="General" weightage="20" keywordseo="food-inflation" source="Orion">Food inflation</keyword> in October fell to 7.01 per cent from 8.6 per cent in the previous month</li></ul> New Delhi, Nov 14 (IANS) Retail inflation in October eased to 6.77 per cent, compared to 7.41 per cent in September, yet remained above the RBI's tolerance band of 6 per cent for the 10th straight month, mainly due to high prices of food items. Though food inflation in October fell to 7.01 per cent from 8.6 per cent in the previous month, prices of meat and egg, milk, vegetables, and cereals rose. Retail inflation in October though was at a three-month low from a five-month high of 7.41 per cent in September. Recently the RBI's monetary policy committee held a meeting on November 3 to discuss the reply to be given to the Centre on the central bank's failure to curb inflation within its tolerance limit of below 6 per cent.

Retail inflation eases to a 3-month low of 6.7% in October

The central government took stock of the <keyword id="67286" type="UNKNOWN" weightage="100" keywordseo="Food-inflation">food inflation</keyword> on Tuesday and decided to impose a minimum export price on onions, release more rice in the open market and crack down on hoarders. State governments have been advised to delist the trade of fruits and vegetables through the Agriculture Produce Market Committee, so that farmers can sell them in the open market at lesser prices. 
 “The situation is not alarming and the price rise is only marginal. We are acting to discourage hoarding (in anticipation of a deficit monsoon) and prevent middlemen from taking advantage of the spike,” said Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>. He said this while talking to the Press after a meeting with Agriculture Minister <keyword id="1081443" type="UNKNOWN" weightage="100" keywordseo="Radha-Singh">Radha Singh</keyword> and Food and Consumer Affairs Minister <keyword id="973" type="PERSON" weightage="100" keywordseo="Ram-Vilas-Paswan">Ram Vilas Paswan</keyword>. 
 
Jaitley also said that the government is monitoring the prices of 22 food items and there has been some increase in the prices of onions, potatoes and some pulses. 
 
The government has imposed a minimum export price (MEP) of $300 per tonne on onions while the Commerce Ministry will announce an MEP for potatoes. State governments will be given a line of credit to import pulses, if required. The Food Corporation of India has been directed to release five million tonnes of rice in the open market.

Govt Taking Measures To Curb Food Inflation

International credit rating agency <keyword id="6462970" type="CITY" weightage="100" keywordseo="Moodys">Moody's</keyword> Investor Service has said that the reforms that were recommended in <keyword id="146885" type="UNKNOWN" weightage="100" keywordseo="food-subsidy">food subsidy</keyword> will reduce inflation and fiscal deficit in India. 
 
"We expect the recommendations to prompt policies that will improve the efficiency of India's food supply chain, a credit positive because it will reduce inflationary pressures and the government's fiscal deficit, two key constraints on the sovereign's credit quality," as per Moody's Sovereign Risk Group. 
 
It is pertinent to mention here that a government-appointed panel had recommended reforms in food subsidy and its distribution system on January 21. The recommended reforms include decentralisation of grain procurement, providing food and fertiliser subsidies through direct cash transfer scheme and lowering the population to be covered under the National Food Security Act to 40% of the total population from 67% at present. 
 According to the rating agency, the consumer price index (<keyword id="6355865" type="ORGANIZATION" weightage="100" keywordseo="CPI">CPI</keyword>) inflation has been around 9% on an average over the last five years. 
 
“The loss of grain stocks through inefficiency or corruption has raised costs and lowered the socio-economic benefits of the system,” said Moody's. 
 Moody’s expressed hope that more transparency and efficiency will help in curbing <keyword id="67286" type="UNKNOWN" weightage="100" keywordseo="Food-inflation">food inflation</keyword> in the country.

Food Subsidy Reforms Will Reduce Inflation In India:
Moody's

<ul class="summary-list"><li>The price of meat, poultry, fish, and eggs rose by about 12% from a year ago.</li><li>Turkey prices are up some 13% from two years ago.</li></ul>Those <keyword id="11909499" type="UNKNOWN" weightage="60" keywordseo="thanksgiving" source="Orion">Thanksgiving</keyword> and <keyword id="12030580" type="UNKNOWN" weightage="60" keywordseo="christmas" source="Orion">Christmas</keyword> dinners will cost a lot more this year, with a surge in meat prices leading an overall jump in <keyword id="12062969" type="UNKNOWN" weightage="60" keywordseo="food-prices" source="Orion">food prices</keyword>.According to the <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category.htm#https://www.bls.gov/news.release/cpi.nr0.htm">US Bureau of Statistics,</a> as of last month, the price of meat, poultry, fish, and eggs rose about 12% from a year ago<a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category.htm#https://www.bls.gov/news.release/cpi.nr0.htm">.</a> Pork prices rose 14.1%, and beef prices surged 20.1%.<a href="https://www.businessinsider.com/thanksgiving-dinner-prices-turkey-potatoes-pie-inflation-2021-11">Turkey prices</a> are up some 13% from two years ago, before the pandemic hit.The surge in meat prices has been the primary driver of overall <keyword id="12408284" type="UNKNOWN" weightage="100" keywordseo="food-inflation" source="Orion">food inflation</keyword>, wrote Jayson Lusk, Head of the Agricultural Economics Department at Purdue University on <a href="https://econofact.org/what-is-driving-the-increase-in-food-prices?type=datapoint" target="_blank" rel="noopener noreferrer">EconoFact</a>, a nonpartisan publication analyzing economic and social issues.He noted that beef, pork, and chicken prices were respectively 26.2%, 19.2%, and 14.8% higher in October 2021 than prior to the pandemic in January 2020."Indeed, prices for some meat items have reached the highest levels recorded even after adjusting for overall <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword>," Lusk said.The increases in food prices come as several factors — including <a href="https://www.businessinsider.com/why-store-shelves-are-empty-supply-chain-crisis-shortages-2021-10">supply chain disruptions,</a> <a href="https://www.businessinsider.com/restaurant-prices-labor-shortage-worker-wages-food-2021-6">wage hikes in the food sector,</a> rising agricultural produce prices, and <a href="https://www.businessinsider.com/america-isnt-running-out-of-everything-supply-chain-2021-10">strong consumer demand</a> — converge."The meat price increases were initially caused by disruptions in supply when packing plants shuttered after workers contracted COVID19," Lusk explained in the post. "Packing has fully resumed, but there remain extra costs from socially distanced workers and the addition of personal protective equipment."It's all leading to the most significant annual grocery price increases in a decade and the highest annual restaurant price increases since the early 1980s, wrote Lusk."Food prices have been extraordinarily volatile throughout the pandemic," he added.<a href="https://twitter.com/JaysonLusk" target="blank"></a>Also damping the festive cheer is a <a href="https://www.businessinsider.com/christmas-tree-shortage-2021-drought-heatwaves-wildfires-2021-9">shortage in live Christmas trees</a> as climate change has decimated crops in Oregon, where most of the country's supply of trees is grown. Even artificial trees have been affected due to the shipping and supply chain crisis, said the <a href="https://www.christmastreeassociation.org/2021-trend-alert-consumers-are-making-the-most-of-their-2021-christmas-trees-by-thinking-outside-the-box/">American Christmas Tree Association.</a>But the ACTA believes there is a fix. They're encouraging consumers to beat the rush for trees by buying ahead of time. "Buying a <keyword id="12118328" type="UNKNOWN" weightage="60" keywordseo="christmas-tree" source="Orion">Christmas tree</keyword> early doesn't mean it has to sit in the garage, or sit undecorated until after Thanksgiving," said Jami Warner, ACTA Executive Director in a <a href="https://www.christmastreeassociation.org/2021-trend-alert-consumers-are-making-the-most-of-their-2021-christmas-trees-by-thinking-outside-the-box/">post</a>. "A Halloween or Thanksgiving tree is a great way for consumers to get into the festive spirit this year," she added.

Supply chain issues may muck up Thanksgiving and Christmas celebrations with higher meat prices and a Christmas tree shortage

<ul class="summary-list"><li>Americans have noticed the most dramatic price increases in their groceries, per <keyword id="12054973" type="UNKNOWN" weightage="60" keywordseo="bofa-research" source="Orion">BofA Research</keyword>.</li><li><keyword id="12408284" type="UNKNOWN" weightage="60" keywordseo="food-inflation" source="Orion">Food inflation</keyword> is the result of <a href="https://www.businessinsider.com/cup-of-coffee-cost-getting-more-expensive-shortage-2021-3">bad weather</a>, a labor shortage, and relentless consumer demand.</li></ul>Americans are fed up with their grocery bills.Of all the goods and services that have experienced <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> this year, people have noticed price hikes for groceries the most. In a recent Bank of America Research note, a team led by Robert F. Ohmes surveyed over 1,000 Americans and found nearly 600 noticed the most dramatic price increases at grocery stores.That's dramatically more than any other category. Restaurants, bars, and eating out came in second by a wide margin, with just about 200 Americans feeling the pinch there. Takeout and <keyword id="11894142" type="UNKNOWN" weightage="60" keywordseo="food" source="Orion">food</keyword> delivery followed next, with about 175 respondents feeling the price hike.That's all to say: Americans' pockets are hurting the most when it comes to food. Because groceries are everyday necessities, it makes sense that everyone is noticing the price of, say, milk going up more than anything else. Food inflation has been slamming grocery stores, <a href="https://www.businessinsider.com/why-are-food-prices-rising-grocery-restaurants-inflation-more-expensive-2021-6">Insider's Grace Kay reported</a>, as some companies jack up price tags and others are selling smaller quantities for the same price. <a href="https://www.bls.gov/news.release/cpi.htm">The Consumer Price Index</a> - a commonly used measure of US inflation - rose by .9% for all food (including restaurants) from August to September and by 1.2% for groceries specifically in the same time frame. Dairy prices have increased the most, by 2.2%, with prices for cereal and baked goods as well as nonalcoholic beverages each right behind with 1.2% increases. The price hikes are the result of a lot of things: bad weather, a national labor shortage, and consumer demand that is no match for the <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword> right now.<h2>Inflation is hitting America</h2>Major droughts in countries like Brazil and Argentina have been <a href="https://www.businessinsider.com/taco-tortilla-shell-shortage-corn-based-products-price-increase-summer-2021-5">driving up prices for corn, coffee, and soybeans</a>. Meanwhile, <a href="https://www.businessinsider.com/restaurant-prices-labor-shortage-worker-wages-food-2021-6">grocery stores are scrambling</a> to find workers and <a href="https://www.washingtonpost.com/business/2021/08/08/fifteen-dollar-wage/">raising wages</a> to lure them in, hikes that could be getting passed down in food costs. <a href="https://www.businessinsider.com/jbs-cyberattack-comes-at-chaotic-time-for-meat-supply-chain-2021-6">Meat prices also surged recently due to a ransomware attack on JBS</a>, a supplier that processes about 20% to 25% of the nation's beef, chicken, and pork products.Then, there's the mess that is the <a href="https://www.businessinsider.com/more-expensive-goods-supply-shortage-congested-shipping-ports-texas-freeze-2021-3">supply chain</a> affecting much of the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> right now. As stimulus checks and pandemic savings unleashed a wave of pent-up consumer demand that ran up against the widespread supply shortages and bottlenecks, businesses began to jack up prices and inflation <a href="https://www.businessinsider.com/consumer-price-index-inflation-june-2021-7">hit Americans' wallets</a>. Companies had struggled to estimate demand correctly, while factory production was halted off and on during the <a href="https://www.businessinsider.com/benefits-remote-work-changing-us-economy-for-the-better-upwork-2021-3">work-from-home economy</a> of 2020. The unpredictable surge in demand caused US shipping ports to become unusually congested as imports picked up speed, delaying shipments of all types, from sneakers to meat. These problems were passed onto consumers in the form of soaring prices. The Consumer Price Index rose 0.4% in September, <a href="https://www.businessinsider.com/inflation-cpi-september-price-growth-index-economic-data-delta-wave-2021-10">Insider's Andy Kiersz reported</a>, exceeding the median forecast of a 0.3% gain from economists surveyed by Bloomberg. That's a 5.4% increase year-over-year when parts of the economy were still shut down last September.Food may be just one of inflation's many victims this year, but as the holidays roll around, it seems to be hitting wallets the hardest.

Americans are pissed off they're paying more for groceries these days

<ul class="summary-list"><li><keyword id="12889502" type="UNKNOWN" weightage="60" keywordseo="avocado" source="Orion">Avocado</keyword> prices from the Mexican state of Michoacán have jumped 81% this year to $38 for a 20-pound box.</li><li>The US banned the import of Mexican avocados for a week in February after a USDA inspector was threatened.</li></ul>Avocado prices have surged to a record high due to tighter supply from major producer <keyword id="11933000" type="UNKNOWN" weightage="60" keywordseo="mexico" source="Orion">Mexico</keyword>.Avocado prices from the major producing state of Michoacán are up 81% this year to 760 pesos ($38) for a 20-pound box — the highest on record in data that goes back to 1998, Bloomberg reported, citing Mexican government statistics.Mexico's avocado production is expected to be 8% lower than it was over the previous year, the <a href="https://www.fas.usda.gov/data/mexico-avocado-annual-6">US Department of Agriculture</a> said in an October report.The fruit's price gain follows a one-week <a href="https://www.businessinsider.com/us-suspends-mexican-avocado-imports-american-official-receives-threatening-call-2022-2">import ban of Mexican avocados</a> by the US in February, after an American plant-safety inspector received a threatening phone call. The ban was <a href="https://www.businessinsider.com/us-moves-to-lifts-mexican-avocado-ban-clearing-the-way-for-imports-to-resume-2022-2">lifted after a week.</a>The rise in avocado prices comes amid concerns about <keyword id="12408284" type="UNKNOWN" weightage="60" keywordseo="food-inflation" source="Orion">food inflation</keyword>, which has been exacerbated due to <a href="https://www.businessinsider.com/supply-chain-crisis-when-it-will-be-over-end-2021-11">supply chain challenges</a>. US <keyword id="11894142" type="UNKNOWN" weightage="60" keywordseo="food" source="Orion">food</keyword> prices edged 1% higher on-month and 7.9% on-year in February, according to data from the <a href="https://www.bls.gov/news.release/cpi.nr0.htm">Bureau of Labor Statistics.</a><a href="https://investors.missionproduce.com/news-releases/news-release-details/mission-produce-announces-fiscal-2022-first-quarter-financial">Mission Produce</a> — the largest US distributor of avocados — raised its selling prices by 50% recently "due to lower industry supply out of Mexico, as well as inflationary pressures," it said in its first-quarter results announcement on March 10.Mexico exported almost $3 billion worth of avocados in 2020, the most recent year for which data is available, <a href="https://www.statista.com/statistics/723856/avocado-export-value-mexico/">according to Statista</a>. The data provider <a href="https://www.statista.com/statistics/1069510/leading-countries-destination-avocado-exports-from-mexico/">indicated</a> that about 80% of Mexico's avocado shipments went to the US in 2020.For now, the US exclusively imports its avocados from Michoacán, but the state of Jalisco has also been approved to supply the fruit by June, according to <a href="https://www.prnewswire.com/news-releases/avocado-industry-welcomes-jalisco-to-united-states-mexican-avocado-imports-301446946.html">Avocados from Mexico,</a> a marketing group that's a wholly owned subsidiary of the Mexican Hass Avocado Importers Association.

Guacamole could get more expensive as the price of Mexican avocados surges to a record high

<ul class="summary-list"><li>Major <keyword id="14383107" type="UNKNOWN" weightage="60" keywordseo="pet-food" source="Orion">pet food</keyword> brands are in short supply at the UK's biggest supermarket amid a spat over rising prices.</li><li><keyword id="12055530" type="UNKNOWN" weightage="60" keywordseo="mars" source="Orion">Mars</keyword> pet products are missing from shelves online and in store, Insider found Wednesday.</li></ul>The UK's biggest supermarket chain is seeing shortages of some pet food brands after a major US supplier halted deliveries in a spat over rising food prices.Mars — which produces pet food brands like Cesar, Pedigree, and Whiskas — stopped deliveries to Tesco after the supermarket chain said it did not want to hike the price of the items.Shortages of the items were noticeable both in store and online. The CEO of Grocery Insight, <a href="https://twitter.com/dresserman/status/1544025447494737923?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1544025447494737923%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.telegraph.co.uk%2Fbusiness%2F2022%2F07%2F05%2Fwhiskas-pedigree-pet-food-pulled-tesco-shelves-price-row%2F">Steve Dresser</a>, posted an image on Twitter of the pet food shelves in his local store, showing a number of products as out of stock.Most products were still available when Insider visited Tesco's online store Wednesday, though a handful were out of stock.Gaps on pet food shelves were noticeable at a local Tesco store Insider visited, as the image below shows:<div type="image" title="A local Tesco store showed some shortages of Mars pet food brands." height="1200" width="1600" msid="92701227" hostid="261" sizebytes="172432"></div>Retailers and restaurants are having to increase the price of their items as a result of <a href="https://www.businessinsider.com/foods-getting-more-expensive-this-year-inflation-supply-fertilizer-war-2022-4?r=US&amp;IR=T">surging food inflation</a>, and the rising cost of energy and labor.Grocery prices have soared since Russia's invasion of Ukraine, which has caused fertilizer shortages. Unpredictable weather in 2022 has also caused issues with global food supplies.Tesco's dispute with Mars comes after the supermarket giant also clashed with another US supplier, Heinz, over the rising cost of items. Last week, numerous Heinz products, including baked beans and tomato ketchup were missing from shelves in many Tesco stores, <a href="https://www.thegrocer.co.uk/service-and-availability/heinz-skus-disappear-from-tesco-in-trade-dispute-over-price-increases/668938.article">The Grocer</a> first reported.The price of a four pack of Heinz tomato soup has grown by 40% from £2.50 ($2.99) to £3.50 ($4.18), meanwhile a four pack of baked beans has grown 20% from £2.50 ($2.99) to £2.99 ($3.57) in other UK supermarkets, according to the <keyword id="11893588" type="UNKNOWN" weightage="100" keywordseo="retail" source="Orion">retail</keyword> research company, <a href="https://www.assosia.com/tesco-faces-shortage-of-heinz-products-after-row-over-rising-prices-2">Assosia.</a>A number of Heinz items were still out of stock online when Insider checked on Wednesday.In a statement sent to Insider, Tesco said it is "laser-focused on keeping the cost of the weekly shop in check.""With household budgets under increasing pressure, now more than ever we have a responsibility to ensure customers get the best possible value, and we will not pass on unjustifiable price increases to our customers," the statement added."We're sorry that this means some products aren't available right now, but we have plenty of alternatives to choose from and we hope to have this issue resolved soon," Tesco said.In a statement sent to Insider, Mars said it would not comment on "individual commercial relationships.""We are aware that some of our Petcare products are currently out of stock at Tesco stores. We want to reassure pet owners that their favorite products are in supply and remain widely available in the UK marketplace," a spokesperson said."There are many reasons why our products may be out of stock in certain stores from time to time. We cannot comment on individual commercial relationships or situations."

You Searched For "food inflation" and got 7 results

Retail inflation eases to a 3-month low of 6.7% in October

IANS

Govt Taking Measures To Curb Food Inflation

BI India Bureau

Food Subsidy Reforms Will Reduce Inflation In India: Moody's

BI India Bureau

Supply chain issues may muck up Thanksgiving and Christmas celebrations with higher meat prices and a Christmas tree shortage

Huileng Tan

Americans are pissed off they're paying more for groceries these days

Hillary Hoffower

Guacamole could get more expensive as the price of Mexican avocados surges to a record high

Huileng Tan

Major pet food brands are missing from the UK's biggest supermarket chain after a spat with its suppliers over surging costs

Abby Wallace

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