On the one hand, where the retail inflation rate in the country increased significantly in the month of May and it was the highest in the last six months, on the other hand, the prices of edible oils getting expensive have given some relief to the people. The Ministry of Consumer Affairs, Food and Public Distribution said on Wednesday that certain categories of edible oil prices have declined by up to 20 percent during the past month.
He said that the price of palm oil has come down by 19 percent to Rs 115 per kg. Along with this, the price of sunflower oil has come down by 16 to Rs 157 per kg.
The consumer ministry further said that the price of edible oil depends on several factors, including international prices and domestic production. Due to the wide gap between production and domestic consumption, India imports a large number of edible oil.
Rising inflation spoiled the budget of the house
If we look at the last few months, the prices of essential food items, including pulses and edible oil, have gone up significantly in the country, which has a direct impact on the budget of the common households of the country. People say that the lower the employment in the epidemic, the faster the inflation increased. While there are many different reasons for this inflation, the jump in international global commodity prices is also a big reason for this.
Oil prices increased by 50 to 30 percent
Talking about a brand of edible oil, its price has increased by 50 percent in the country and the price of this oil has increased by 77 percent in Bengal. On the other hand, the prices of mustard oil, palm oil and other edible oils have seen a huge jump of 30 percent. The condition of pulses is also here, the price of pulses like tur has increased by more or less by 25 percent across the country.
From the figures that came on Monday, it is clear that inflation went to the highest level of the last 6 months and stood at 6.3 percent. The increase in the price of petrol in the month of May is also one of the reasons for this, but these rising prices have also worried the RBI, which is under pressure to bring the economy back on track.
