Edible oil prices continue to pinch pockets as food inflation rises

Retail inflation inches up to 2.07% in August; edible oils, tomatoes, and precious metals see record price rise, with Kerala topping state-wise inflation charts

With India’s consumer price index (CPI)-based retail inflation seeing a slight uptick in August to 2.07 per cent from 1.61 per cent in July on account of a low-base effect, and reduced deflation in food prices, certain food items, especially edible oils, continue to see record inflation during the month. 

 

Data showed that prices of coconut oil rose by 133 per cent during the month, followed by coconut copra (73.4 per cent), mustard oil (24 per cent) and refined oil (23.4 per cent). Inflation in tomato (16.9 per cent) prices too put the brakes on deflation in vegetables.  

 

Inflation in precious metals - gold (40.3 per cent) and silver (31.8 per cent) also remained high. 

 

Among states and union territories (UTs), Kerala (9.04 per cent), followed by Lakshadweep (6.25 per cent), Goa (3.89 per cent) and Karnataka (3.81 per cent) faced the highest inflation rate in the country.

 

Meanwhile, Tripura (-1.4 per cent) recorded deflation, along with Assam (-0.66 per cent) and Odisha (-0.55 per cent).  Overall, 16 states/UTs had an inflation rate higher than the national average.