21 October, 2020

Tomatoes Of Wrath

Wheat, rice, pulses, veggies, petrol, diesel, home loans are all up. Inflation will stay a while.

Narendra Bisht
Tomatoes Of Wrath
outlookindia.com
-0001-11-30T00:00:00+05:53
It's been a long summer of wallet-watching for most Indians. First, pulses went up, followed by wheat. The hike in petrol and diesel prices came next, forcing even status-crazy Delhiites to seriously consider car pools. Then home loans shot through the roof, upsetting future plans and budgets. And now vegetables like tomato and potato have done the vanishing act from the market, and their prices have soared, putting them out of the reach of many households. At this rate, rues homemaker Meera Jain, "the monthly salary will not last for even half a month".

She's right. This year, prices of primary commodities and vegetables are ruling much above their six-year averages. The spiral is reflected in the wholesale price index (WPI) that went up to 5.24 per cent on June 10, compared to 4.72 per cent a week ago, making it the highest rise in a year. The higher than expected rate sent government bond yields to a new four-year high—the yield on the benchmark 10-year bond rose six basis points to hit 8.19 per cent. Even the Consumer Price Index for...
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