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UBI REPORT: FOOD INFLATION TO EASE, RISKS FROM MONSOON
The Business Guardian
|September 07, 2024
Union Bank of India’s report predicts a decline in food inflation due to improved monsoon conditions, though any adverse weather events could drive prices up.
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Food inflation, which has moderated a bit lately is further expected to come down in the coming months, Union.
Bank of India noted in a report, citing progressing Southwest monsoon and sufficient water in reservoirs across regions.
A rise in reservoir levels, coupled with improved sowing of kharif crops are expected to keep the supply-side concerns at bay for some time. However, the report cautioned that any negative surprise may trigger it upwards.
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