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Inflation may spike in near months due to supply shocks: MPC
Indian oil majors, which turned profitable in the summer last year, are in a position to reduce domestic prices, says MPC member Ashima Goyal
Indian oil majors, which turned profitable in the summer last year, are in a position to reduce domestic prices, says MPC member Ashima Goyal
The year-on-year inflation rate for vegetables surged to 37.34% in July
The Department of Consumer Affairs has directed NCCF and NAFED to sell tomatoes at retail price of ₹70 per kg rate from July 20
This volatility also gets transmitted to prices of other vegetables in both retail and wholesale markets, says RBI.
According to the ministry, the procured tomatoes will be distributed in major consumption centres where retail prices have recorded a maximum increase in the last month.
Traders say the prices have zoomed due to supply constraints caused by heavy rains in various parts of the country