Onion prices likely to rise due to strike in Nashik mandi

The onion prices may shoot up further due to the ongoing strike at wholesale markets in Nashik.

Trade at the over 20 wholesale markets in Nashik, where traders purchase onions from farmers, have come to a standstill owing to the agitation by Mathadi labo.

High Food prices, fuel and manufactured product prices have contributed to the rise in inflation. May Wholesale Price Index has touched a five-month high at 6.01% compared with 5.3% last month.

Food inflation is also rising through the roof. Food inflation was at 9.50% compared with 8.64% in the last month. As per the commerce ministry, the food items that have become costlier are chicken, fish, coffee, and fruits and vegetables. Fuel and power group has gone up at 10.53% against 8.93%.

READ: Food inflation is rising through roof, becoming Narendra Modi government's first big challenge 

(With agency inputs)