Inflation of things like soap and oil stood at 12.6% in August, so far this year the prices of essential groceries have increased by 22%. Inflation of things like soap and oil was 12.6% in August, so far this year the prices of essential groceries have increased by 22% | NewsBust Inflation of things like soap and oil stood at 12.6% in August, so far this year the prices of essential groceries have increased by 22%. Inflation of things like soap and oil was 12.6% in August, so far this year the prices of essential groceries have increased by 22% | NewsBust

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Inflation of things like soap and oil stood at 12.6% in August, so far this year the prices of essential groceries have increased by 22%. Inflation of things like soap and oil was 12.6% in August, so far this year the prices of essential groceries have increased by 22%

By Amit - October 1, 2022

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  • Inflation Of Things Like Soap And Oil Was 12.6% In August, So Far This Year The Prices Of Essential Groceries Have Increased By 22%

New DelhiOne hour ago

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Despite the efforts of the government and the Reserve Bank, the common people are not getting relief from inflation. According to retail analytics platform Bijom, prices of daily-use groceries have increased by 10% to 22% since January this year. It ranges from edible oils, spices and rice to hair oils. However, prices of some non-food items like soap and washing powder (detergent) have increased by only 1-3%.

Spices prices also increased by 3-17%
Edible oil prices continued to rise after rising nearly 35% in the first quarter of the year, but are still 5-22% costlier than January. Meanwhile, the prices of spices have also increased by 3-17%. This is the situation when India is one of the largest spice exporters in the world.

Not only this, so far this year, the prices of branded essential groceries like rice, flour and refined flour have also increased by more than 10%. Bijom’s report states that the increase in prices is affecting the sale of groceries. Especially in rural areas, their sales have decreased, due to which the growth of the market is slowing down.

Relief expected in October-December
According to Saugat Gupta, MD, Merico, a company that manufactures daily consumption items (FMCG) like soap-oil, commodity prices will come down in October-December. According to brokerage firm Nirmal Bang, FMCG inflation stood at 12.6% in August.

There is more news…

Amit

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