Economic Affairs Secretary Arvind Mayaram has underscored that inflation is expected to come down in the coming months, but has added that country would need to bridge the demand-supply gap of essential food items to keep prices under check in the long run. However, he admitted that inflation was a problem and though it would marginally ease in the immediate future, to keep the declining momentum in lower single digits for the longer term, the country would have to continue to work towards increasing production and improving the logistics for movement of vegetables.
India’s headline inflation guage, WPI inflation rose to a 14-month high of 7.52%, while the retail inflation, CPI was in double digits at 11.24% in November. The rise in inflation can be blamed mainly to sharp rise in vegetables and protein-rich items.
Economic Affairs Secretary has also pointed that APMC Act had begun to hurt, by restricting movement and dissemination of food and cereals and underscored the need for food distribution to be more open and market oriented. Citing statistics, Mayaram said that spurt in demand for food products driven by improvement in living standards, was adding to inflationary pressure.
India’s headline inflation guage, WPI inflation rose to a 14-month high of 7.52%, while the retail inflation, CPI was in double digits at 11.24% in November. The rise in inflation can be blamed mainly to sharp rise in vegetables and protein-rich items.
Economic Affairs Secretary has also pointed that APMC Act had begun to hurt, by restricting movement and dissemination of food and cereals and underscored the need for food distribution to be more open and market oriented. Citing statistics, Mayaram said that spurt in demand for food products driven by improvement in living standards, was adding to inflationary pressure.
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