Consumer price inflation in India has been going down consistently and has hit a two-year low of 4.25 per cent in May 2023. But although prices of fruits, vegetables and grains dragged infaltion downwards, other essentials for Indian kitchens may pinch consumers.
Despite a dip in fodder costs and some respite in April, the price of milk went up during the month of May.
Protein gets pricey
This price rise has been triggered by cost-cutting measures by major cooperatives such as Amul.
The Reserve Bank of India has also predicted that there won't be any respite from milk prices for a while.
Even though costs have gone down, fodder is still facing double-digit wholesale price inflation, and this means that other forms of animal products will also become expensive.
This has caused a three-fold increase in the WPI for eggs, meat and fish during the month of May, which is the biggest surge since September 2021.
Other than input costs, factors such as heatwaves have also contributed towards rising prices of essentials such as eggs.
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