Normal monsoon, interest rate cuts key to reducing inflation by year’s end: economists

A 40-year-old vegetable vendor said managing two meals a day has become difficult as people choose home deliveries instead of buying from vegetable suppliers. “Medicines are becoming expensive. We can’t even afford to get sick these days.”

Economic Affairs Secretary Ajay Seth said on June 16th that inflation in India was mainly due to high energy and food prices and hoped it would slow in the coming months. “We are all aware that the summer months are difficult months for vegetables and other products,” he said. “High crude oil prices are certainly a challenge, and whatever measures are needed and feasible are being taken.” S&P Global Ratings economist Vishrut Rana says higher global commodity prices are a key driver of inflation and the outlook for food inflation, which weighs heavily on the CPI’s overall basket, will depend on the monsoon – enough rainfall will help agricultural output and will help master prices.

Related Posts

Leave a Reply

Your email address will not be published.