Sep 08: Associated Chambers of Commerce and Industry of India, ASSOCHAM has said that despite of higher economic growth, common Indians have to face the burden of higher inflation in most essential common food items. Since last one year the most common food items have become 23-25 percent more expensive while per capita income decreases up to some extent.
According to ASSOCHAM report that comes on the basis of annual study, the most common food items include six essential commodities has been grown in terms of price as wheat and rice become 7.6 higher, milk price grows 9.8 percent, fruits grows 1.5 percent, eggs become 7 percent higher in price while meat and fish gains 7.2 percent price hike. Only the pulses are able to moderate in the price that cracks 1.5 percent in the comparison of last year’s price till Aug 31. All the analysis was based on Sep 01, 2006 to Aug 31, 2007.
Sugar is being sold at Rs. 16 per kilogram that was Rs. 18 per kilogram in last year in the month of August. The pulses that were hovering Rs. 45 to 67 per kg are now being sold on around Rs. 42 to 52 per kg in this past August. The price of edible oil has also become expensive up to 12.5 percent in the comparison of last year’s August price.
“Except pulses and sugar, prices of all other essential items have registered a substantial hike with wheat and rice prices going up by 30-32 percent during the period”, said V N Dhoot, the president of ASSOCHAM. “Government’s effort to tame the price could not successful in essentials food commodities expect some manufacturing goods.” added Dhoot.
“Year-on-year wholesale prices-based inflation in case of vegetables stand at 25.3 percent and 12.3 percent in case of edible oils as on 18th August”, replied P K Bansal, Minister of state for Finance who was responding over this report in the Lok Sabha.
Earlier, ASSOCHAM had recorded 25 percent price hike for certain essential commodities during January-May 2006 against January-May 2007 while 12.3 percent price hike has been reported in the edible oil at Aug 18, 2007 as against Aug 18, 2006.
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