RBI Bulletin | Prices of cereals, pulses, edible oil moderates in August, shows high frequency food price data
In August, prices of cereals, pulses, and edible oils have broadly moderated, according to RBI’s latest bulletin. While the prices of key vegetables like potatoes have increased, onions and tomatoes have decreased. Despite this moderation in headline and food inflation, year-on-year inflation for cereals remains high at 8.1% as of July. The bulletin’s views, authored by Deputy Governor Michael Patra, reflect individual opinions rather than the RBI’s official stance.
The prices of cereals, pulses, and edible oil have recorded a broad-based moderation in August, showed the high frequency food price data, Reserve Bank of India’s (RBI) latest monthly bulletin said on August 19.
“High frequency food price data for August so far (up to 12th) show that the price of cereals, pulses and edible oil recorded a broad-based moderation,” the bulletin said.
The bulletin further added that among key vegetables, potato prices continued to edge up, while onion and tomato prices declined.
The monthly State of the Economy article includes Deputy Governor Michael Patra – one of the three RBI representatives on the Monetary Policy Committee (MPC) – as one of its co-authors. The views expressed in the article do not reflect the central bank’s official stance, RBI said in a release.
Despite the moderation in headline inflation and overall food inflation, year-on-year inflation in cereal prices remains high at 8.1 per cent in July.
Recommended for you
