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Food Price Index
The central government on Friday said it is closely monitoring the prices and availability of essential food commodities to ensure affordability to consumers and maintain a stable price regime. Measures like incentivising domestic production and import and export policies to ensure the overall availability and affordability of essential food commodities are being taken up. "The Centre is taking pre-emptive and timely decisions to maintain price stability in the interest of consumers and farmers," according to a statement issued by the Food Ministry. The production of pulses and onion in the 2024-25 crop year (July- June) is estimated to increase over the last year due to good monsoon rains and favourable weather conditions. The tur production is estimated to be 35.02 lakh tonnne in 2024-25, 2.5 per cent higher than the previous year's production of 34.17 lakh tonne. The agriculture ministry has issued sanctions for the procurement of tur. Kharif and late Kharif onion production h
Ashoka University has developed a first-of-its kind Daily Food Price Index (DFPI) to track inflation in retail and wholesale food markets on a real time basis, officials said on Thursday. The existing Consumer Price Index (CPI) and Wholesale Price Index (WPI) are released on a monthly and yearly basis. "The recent surge in food prices due to factors like the COVID-19 pandemic and ongoing conflict in Ukraine reflect the rapidity with which situations that affect the economy can develop. In this context, having access to more real-time data can facilitate timely market interventions and decisions related to price regulation," said Ashwini Deshpande, Director, Centre for Economic Data & Analysis (CEDA) at Ashoka University. "A delay in publication of data, and subsequent delay in policymaking, often carries a cost. Thus, the DFPI developed by CEDA would be a great public resource for policymakers, researchers and journalists," she added. Deshpande explained that CEDA's Daily Food ...