At 10.01 per cent, food inflation hits double figure for first time in six years
New Delhi : Consumer food price inflation soared to 10.01 per cent year-on-year in November; this is the first time in last six years when the inflation has touched the double figures.
It becomes more of a concern with its speed - from just 2.99 per cent in August to 5.11 per cent in September, 7.89 per cent in October to 10.01 per cent last month. That too, under the conditions when the crop has not been majorly damaged due to monsoon, drought or unseasonal rains.
The first term of PM Narendra Modi government had proved to be the good one for food inflation; from June 2014 to May 2019 it remained at an average of 3.26 per cent, below the corresponding 4.31 per cent general retail inflation during the period. Moreover, there was an extended 36-month period between September 2016 and August 2019, when retail food inflation ruled consistently below overall consumer price index (CPI) inflation, averaging a mere 1.38 per cent.
That has, however, now reversed.
The 10.01 per cent food inflation rate for November not only exceeded the general CPI inflation of 5.54 per cent, but was also the highest since the 13.16 per cent recorded way back in December 2013.