Inflation in India has surged, with July’s consumer price index (CPI) expected to have risen to 6.40%, breaching the upper limit of the Reserve Bank of India’s (RBI) tolerance band of 2%-6%, according to a recent Reuters poll of economists. This marks the first time in five months that inflation has crossed this threshold. The escalation is primarily attributed to soaring food prices, a significant component of the inflation basket, which have been driven up by erratic monsoon patterns across the country. In particular, tomato prices at wholesale markets have skyrocketed by over 1,400% in the past three months, severely impacting a substantial portion of India’s population, primarily consisting of the poor and middle classes.
この記事は The Business Guardian の August 10, 2023 版に掲載されています。
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