Prices of Vegetables and Pulses Stoke Retail Inflation: President, PHD Chamber of Commerce and Industry

A rise in the prices of vegetables, cereals, pulses, and spices due to supply disruptions caused by abnormal monsoon behaviour in many parts of the country stoked retail inflation. The vegetable inflation rate increased from -0.93% in June 2023 to 37.34% in July 2023.

Inflation Rates of Pulses, Cereals, and Spices

Following are the increase in inflation rates of pulses, cereals, and spices as observed by Saket Dalmia, President, PHD Chamber of Commerce and Industry

• The inflation rate of pulses and products increased from 10.53% in June 2023 to 13.27% in July 2023
• The inflation rate of cereals and products increased from 12.71% in June 2023 to 13.04% in July 2023
• The inflation rate of spices increased from 19.19% in June 2023 to 21.63% in July 2023.

Inflation rates of Clothing & Footwear, Housing, and Fuel & Light

Following are the deceleration in inflation rates for clothing & footwear, housing, and fuel & light:

• The inflation rate in clothing and footwear decelerated from 6.19% in June 2023 to 5.64% in July 2023
• The inflation rate in housing decelerated from 4.56% in June 2023 to 4.47% in July 2023
• The inflation rate in fuel and light decelerated from 3.92% in June 2023 to 3.67% in July 2023.

As monsoon behaviour is stabilizing in recent weeks, the prices of food products have also started softening and the inflation trajectory is expected to come down in the coming months, said Mr. Dalmia.