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India's retail inflation rate spikes to 5.54% in Nov: CSO

The data revealed by the Ministry of Statistics and Programme Implementation also showed that food prices rose by 10.01% in November compared to 7.89% in October.

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The higher prices of food items spiked the retail inflation to 5.54% in October compared to 4.62% in October, Central Statistics Office data revealed on Thursday.

The data revealed by the Ministry of Statistics and Programme Implementation also showed that food prices rose by 10.01% in November compared to 7.89% in October.

In October, the inflation rate recorded for cereals and products was at 2.16%, which spiked up to 3.71% in November.

In November, vegetable inflation stood at 36% compared to 26% in October. The inflation rates of pulses and products stood at 13.94%  in November compared to 11.72% in October.

The current inflation rates have been driven up by an overall increase in vegetable prices especially onions.

To tackle the ongoing onion crisis, the central government has ordered the import of an additional 12,660 metric tonnes of onions, which will begin arriving in India from December 27, 2019, raising the total quantity of onions contracted to be imported so far to approximately 30,000 metric tonnes.

Union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan has also written to the Chief Ministers of all states, asking them to immediately conduct anti-hoarding operations which will ensure that the market is sufficiently stocked with the vegetable. The stock holding limits were also asked to be strictly enforced so that there is no deficit in onion supply.

The onion price rise has reached a crisis level with the vegetable being sold for over Rs 150 in several cities across the country. 

The retail price of onion has crossed Rs 100 per kilogram in Patna. 

The government has announced that will import 11,000 Metric Tons (MT) of onion from Turkey in addition to 6,090 MT from Egypt. The supply from Egypt will arrive in India in the second week of December while consignment from Turkey will reach the Indian shores in January 2020.

Last month, the Union Cabinet had approved importing 1.2 lakh tonnes of onion to improve the domestic supply. Exports have already banned and a limit has been imposed on stock-holding for wholesalers and retailers for an indefinite period.

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