Food costs have climbed in the recent year. Nonetheless, certain items’ costs have also decreased. Nonetheless, the retail inflation rate in February was higher than the 6% mark. The cost of rice and wheat has risen.
The retail inflation rate in the country exceeded 6% in February, above the Central Bank of India’s objective (RBI). The prices of food goods increased as a result of this. In comparison to previous year, the average person’s plate in the country has gotten more expensive this year. The costs of daily necessities such as rice, wheat, and pulses have risen, making the plate more expensive. Nonetheless, the cost of several food goods has decreased.
Last year, on March 20, 2022, one kilogramme of rice cost Rs.36. Nevertheless, as of March 30, 2023, it has risen to Rs 39 per kilogramme. Rice prices have climbed by 9.5 percent in the last year. At the same time, the price of flour has risen 14.4 percent this year compared to last. On March 20, 2022, one kilogramme of flour cost Rs.31. On March 30, 2023, flour was sold at a price of Rs.35 per kg.
Tur dal prices have grown by 11.6 percent in the last year. On March 30, 2022, one kilogramme of Arhar Dal cost Rs.103. On March 30, this year, its price had risen to Rs 115.
Milk costs have also increased dramatically. The price of milk on March 30, 2022 was Rs.51 per litre. Milk will be 12.5 percent more expensive on March 30, 2023, reaching Rs 57 per litre.
Vegetable oil costs have dropped by 12.8 percent this year compared to previous. Vegetable oil was selling for Rs 155 per litre on March 30, 2022. Similarly, it became 12.8% cheaper on March 30, 2022, and was sold for Rs 135 per litre.
Onion costs have also decreased this year compared to previous. Onion prices were Rs 28 per kilogramme on March 30, 2022. On the other hand, on March 30, 2022, one kilogramme of onion was sold for Rs 24 per kg. Onion is now 17.1% cheaper than it was last year.
The state of potato is likewise comparable. Potatoes are 6.6 percent cheaper this year compared to previous. On March 30, 2022, the price of a kilogramme of potato was Rs.20. On the other hand, on March 30, 2023, it was selling for Rs.19 per kilogramme. This year’s tomato costs have risen. Tomatoes cost Rs 23 per kilogramme on March 30, 2022. At the same period, tomato was being offered for Rs 24 per kg this year, on March 30, 2023.
The retail inflation rate was 6.44 percent in February 2023, and the food inflation rate was 5.95 percent. At the same period, the food inflation rate was 5.85 percent in February 2022.
