On the back of rising vegetable prices, food inflation galloped and rose in double digits for the first time in fifteen months to 10.87 per cent from 9.2 per cent in the previous month, mainly due to a 42.18 per cent rise in vegetable prices.
A research report by the Union Bank says the spike in inflation is sharper than the MPC's estimate of 4.8 per cent; it is currently tracking above 5.5 per cent. It estimates a sharp correction in the fourth quarter and says if we remove vegetables the inflation is subdued at 3.6 per cent.
This story is from the November 14, 2024 edition of The Business Guardian.
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This story is from the November 14, 2024 edition of The Business Guardian.
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