Most of the food and other items that the RBI
has flagged off in its inflation
outlook started the current financial year with low rates of price rise, except for chicken. As of December, most of these items have seen their prices rise in double digits, barring milk, for which the latest data is available. Onion saw inflation
at 328 per cent in December. The RBI
sees onion prices reducing in the coming weeks. The RBI, in its monetary policy statement, said a likely decline in the price of onion could be tempered by hardening of prices of other food items, notably those of pulses and proteins, and adjustments to telecom charges.