Inflation Update: Kitchen budget collapsed! Iran Israel Tensions push up prices of essential commodities
- Kitchen budget collapsed!
- Current stress also affects people’s diet
- Highest inflation in these states
India Inflation Growth: March has been an inflationary month for Indian consumers. According to the latest data, the food inflation rate in the country has increased to 3.87%. This increase is significant compared to February, and experts say that the main reason behind this is the Iran-Israel conflict at the global level. Retail inflation in India rose to 3.40 percent in March from 3.21 percent in February. This increase has been driven by rising food and beverage prices, as well as huge increases in energy costs.
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Current tensions in West Asia have also affected people’s diets. However, despite this increase, the figure has remained below 4, which is of little comfort to the general public.
Food is expensive
According to the data, foodgrain inflation increased to 3.87 percent in March from 3.47 percent in February. This means, the prices of daily food items have gone up, which will directly affect the pocket of the common people. Comparing rural and urban figures, food inflation in villages was recorded at 3.96 per cent, while in urban areas it was 3.71 per cent. From this it is clear that the effect of inflation is felt not only in cities but also in rural areas.
Central Bank Preparedness
The Reserve Bank of India has recently decided to keep the repo rate unchanged. After this, inflation figures have been announced. The RBI took a cautious stance in its meeting on April 8. The central bank is keeping a close eye on rising oil prices, as it can have a direct impact on the economy. The RBI has also made it clear that, if necessary, measures can be taken to control excessive currency fluctuations.
Highest inflation in these states
According to the latest data, the impact of inflation varied from state to state. Telangana recorded the highest inflation rate at 5.83 percent, followed by Andhra Pradesh at 4.05 percent, Karnataka at 3.96 percent, Tamil Nadu at 3.77 percent and Rajasthan at 3.64 percent.
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