Food prices and agriculture output faced disruptions in 2022-23 (FY23) and FY24 largely due to fallouts from climate change and unpredictable monsoon. As a result, the average food inflation in the country almost doubled from 3.8 per cent in FY22 to 6.6 per cent in FY23, before spiking to 7.5 per cent in FY24.
In June, food inflation was at its highest rate since December at 9.36 per cent, while the headline inflation was at 5.08 per cent. In fact, food inflation has exceeded the overall inflation print in 12 of the last 18 months (chart 1).
This story is from the August 12, 2024 edition of Business Standard.
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This story is from the August 12, 2024 edition of Business Standard.
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