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​How much has the cost of milk gone up in the past ten years?

<ul class="summary-list"><li>A Kroger executive reportedly testified that the company raised milk and egg prices beyond inflation.</li><li>The testimony comes amid a legal battle over Kroger's proposed $24.6 billion merger with Albertsons.</li></ul>A top <a target="_blank" class="" href="https://www.businessinsider.com/kroger-biggest-sushi-seller-wants-to-sell-more-2023-8">Kroger</a> executive testified that the grocery chain hiked up the prices of milk and eggs beyond the added costs from inflation, according to a new report.The remarks were made during a court hearing over antitrust regulators' attempt to block the supermarket giant's merger with grocery chain <a target="_blank" class="" href="https://www.businessinsider.com/where-kroger-and-albertsons-grocery-stores-overlap-2022-12">Albertsons</a>.While testifying in Oregon federal court on Wednesday, Kroger's senior director for pricing, Andy Groff, was questioned by a <a target="_blank" class="" href="https://www.businessinsider.com/ftc-needs-approve-paramount-and-skydance-merger-antitrust-competition-khan-2024-7">Federal Trade Commission</a> attorney regarding an internal email he sent to other Kroger executives earlier this year about the prices of the staple household items."On milk and eggs, retail inflation has been significantly higher than cost inflation," Groff wrote in the March email, Bloomberg <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-27/kroger-hiked-milk-egg-prices-above-inflation-merger-judge-told">reported</a>.In response to questions about the email, Groff testified that Kroger's objective is to "pass through our inflation to consumers," according to the news outlet.A Kroger spokesperson downplayed the remarks, saying in a statement to Business Insider: "This cherry-picked email covers a specific period and does not reflect Kroger's decades-long business model to lower prices for customers by reducing its margins."The discussion around grocery costs came to light amid growing national attention on <a target="_blank" class="" href="https://www.businessinsider.com/how-to-lower-grocery-prices-inflation-harris-price-gouging-proposal-2024-8">inflation and price gouging</a>.Vice President <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-democratic-national-convention-speech-election-2024-8">Kamala Harris</a>, the 2024 Democratic presidential nominee, recently unveiled her plan to crack down on grocery inflation, which includes a first-ever <a target="_blank" class="" href="https://www.businessinsider.com/grocery-costs-inflation-kamala-harris-ban-price-gouging-election-trump-2024-8">federal ban on excessive overpricing</a> of food and groceries.Harris' plan has sparked <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-economic-plan-price-controls-gouging-food-inflation-election-2024-8">mixed reactions from experts and economists</a>, with some criticizing it as unnecessary government intervention into an issue they argue is not at the core of the inflation problem that has impacted Americans in recent years.Meanwhile, Kroger and Albertsons are continuing to duke it out in court against federal regulators who are trying to block the companies'<a target="_blank" href="https://markets.businessinsider.com/news/stocks/ftc-states-sue-to-block-kroger-s-24-6-bln-albertsons-deal-1033106297"> proposed $24.6 billion merger</a> — the largest in United States history.The supermarket chains argue that Kroger's acquisition of Albertsons would boost competition with retail rivals like <a target="_blank" href="https://www.businessinsider.com/walton-family-sam-walmart-stock-billionaires-estate-planning-inheritance-wealth-2024-8">Walmart</a>, <a target="_blank" href="https://www.businessinsider.com/canceled-costco-membership-bad-for-me-would-never-go-back-2023-9">Costco,</a> and <a target="_blank" href="https://www.businessinsider.com/amazon-aws-sales-guidelines-spread-doubt-about-openai-ai-capabilities-2024-8">Amazon</a>, while the FTC alleges the opposite, saying the deal is actually anticompetitive and would result in higher grocery prices for millions of Americans, as well as lower wages for workers.Both sides are currently making their case before US District Judge Adrienne Nelson, who will ultimately decide at the end of the hearing next month whether to approve the FTC's request for a preliminary injunction against the merger.If the judge rules in favor of the FTC, the deal between Kroger and Albertsons could end up torpedoed completely.

A Kroger exec reportedly testified that the supermarket giant raised prices of milk and eggs beyond inflation costs

<ul class="summary-list"><li>Putin has been pledging that his country can focus on both "guns and butter" as it fights in Ukraine.</li><li>Yet it's precisely butter that's been a headache for Russia, with a 25.7% price increase this year.</li></ul>A year into his war on Ukraine, Russian leader Vladimir Putin told his country that its new focus on weapons production wouldn't tank its economy."There is a well-known phrase: guns instead of butter," Putin said <a target="_blank" class="" href="https://www.rbc.ru/economics/21/02/2023/63f496049a79475942fefc7d">last February.</a>"The country's defense is, of course, the most important priority, but, in solving strategic tasks in this area, we must not repeat the mistakes of the past, we must not destroy our own economy," he said, citing <a target="_blank" class="" href="https://www.businessinsider.com/100-million-tons-russian-wheat-piling-up-food-crisis-2022-9">burgeoning wheat production</a> at the time.<a target="_blank" class="" href="https://tass.ru/armiya-i-opk/20806247">In May, Putin once again ordered his government</a> to continue aiming for that goal, telling officials to focus on both "guns and butter" — rejecting the adage that countries have to choose between military and civilian spending.Yet as the war grinds on, the last few months have been especially rough on Russian consumers. Inflation rates in August and September climbed to their highest since early 2023, when Putin first made his speech propping up the civilian economy.By the end of October, the price of butter in Russia was up 25.7% compared to December 2023, per <a target="_blank" class="" href="https://rosstat.gov.ru/storage/mediabank/170_30-10-2024.html">government statistics.</a>Not all grocery or dairy prices are running up at such a rate. The next-largest increase involved lamb, which rose 21.48%, while milk rose 12.75% in the same period.<h2 id="e989b31e-8dfe-4e0e-810d-655ddb2dfddd">'Armageddon with butter'</h2>Still, the overall trend has raised fears of a return in Russia to 2022's surging inflation rates or the <a target="_blank" href="https://www.businessinsider.com/russia-economy-outlook-stagflation-recession-inflation-gdp-growth-ukraine-war-2024-9">possibility of a recession.</a>"What is especially frightening is the fact that the acceleration is associated with a unanimous increase in prices across the entire basket. Of the 107 items included in the weekly basket, 84 went up in price," wrote economists on the MMI Telegram channel, a <a target="_blank" class="" href="https://t.me/russianmacro/20015">Russian group that provides analysis on inflation.</a>As government statistics showed butter rising by up to 1.9% weekly in late October, the same channel warned of an <a target="_blank" class="" href="https://t.me/russianmacro/19984">"armageddon with butter"</a> and said Russia could see a repeat of its 40% <a target="_blank" class="" href="https://www.businessinsider.com/vladimir-putin-russia-economy-egg-price-crisis-soviet-union-ukraine-2024-1">egg price surge from November 2023.</a>The soaring prices made national headlines earlier this month when Russian media reported a series of butter-related supermarket thefts.The <a target="_blank" href="https://egpetqycqyosvurg.1tw.live/news/2024/10/29/v-moskve-soversheno-razboynoe-napadenie-na-pyaterochku-pohischeny-25-pachek-slivochnogo-masla">independent outlet Meduza</a> reported that one robbery in Moscow involved 25 packs of butter stolen by two men.Even state media has addressed the issue, with the <a target="_blank" class="" href="https://rg.ru/2024/10/27/zhirnyj-minus.html">government-run Rossiyskaya Gazeta</a> writing that some stores were putting butter in protective boxes.Federal officials have since met with dairy producers in a bid to curb the cost hikes, though the local union's statement in late October promised only that it would <a target="_blank" href="https://www.souzmoloko.ru/news/news_6936.html">monitor prices weekly</a><a target="_blank" class="" href="https://www.souzmoloko.ru/news/news_6936.html">.</a><h2 id="28f27be9-d8d6-4027-9a56-9a381850752d">Why butter prices are on the rise</h2>A week before that meeting, the same union <a target="_blank" class="" href="https://www.souzmoloko.ru/news/news_6924.html">said</a> the country wasn't experiencing a butter shortage, but added that about 25% of local butter consumption comes from foreign suppliers.Much of those imports previously came from countries in Latin America, which dropped their butter shipments from <a target="_blank" class="" href="https://interfax.com/newsroom/top-stories/107343/">25,000 tons to 2,800 tons</a> yearly amid Western sanctions on Moscow.Another major dairy supplier complying with wartime sanctions, New Zealand, <a target="_blank" class="" href="https://www.mfat.govt.nz/assets/Trade-General/Trade-Market-reports/Potential-impacts-of-a-Russia-Ukraine-conflict-on-the-New-Zealand-economy.pdf">sold $88.8 million</a> worth of butter to Russia yearly before the invasion began.To fill the butter void, Moscow has since been turning to friendlier nations such as <a target="_blank" class="" href="https://tass.ru/ekonomika/22273391">Turkey</a> and the <a target="_blank" class="" href="https://www.reuters.com/markets/commodities/russia-turns-uae-turkey-butter-contain-soaring-prices-2024-11-02/">United Arab Emirates</a>, which previously only supplied about 90 tons yearly to Russia.The price turmoil continues to play out as Russia leans its economy further into weapons manufacturing to maintain the invasion of Ukraine, which has now increasingly turned into a <a target="_blank" class="" href="https://www.businessinsider.com/ukraine-needs-to-stop-fighting-the-war-russia-wants-2024-6">grinding war of attrition</a> in manpower and equipment.Russia is expected to spend <a target="_blank" class="" href="https://www.businessinsider.com/russias-defense-sector-on-overdrive-but-firms-warn-of-collapse-2024-11">$140 billion on its defense industry in 2024</a>, up to $145 billion in 2025, or 6.3% of its GDP.That could spell even more bad news for Russian consumers, with economists expecting <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-tax-hikes-putin-high-earners-corporations-ukraine-war-2024-3">further tax hikes</a> beyond the announced reforms for 2025 to keep up with <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-moscow-businesses-taxes-discount-asset-sales-ukraine-war-2024-10">military spending.</a>

Putin said Russia wouldn't have to choose between guns or butter. The price of butter is soaring.

Ever since 2022, when inflation hit a 40-year high of 9%, Americans have been pissed off about the economy. In a <a target="_blank" href="https://www.pewresearch.org/politics/2024/05/23/publics-positive-economic-ratings-slip-inflation-still-widely-viewed-as-major-problem/">survey</a> conducted by the Pew Research Center in May, only 23% had a positive view of economic conditions. And when asked to identify "very big problems" facing the country, their top concern wasn't immigration, gun violence, crime, or healthcare — it was inflation. Pollsters say the sour economic mood could help tip the election to Donald Trump, as voters continue to fret over the price of milk and meat.But the thing is, wages have actually caught up with inflation. Prices are <a target="_blank" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">moderating</a>. Unemployment is low. Inequality is shrinking. Financially, Americans are better off than they were before prices took off during the pandemic. So why is everyone still fixated on inflation?The answer may lie in a new paper published by the <a target="_blank" href="https://www.nber.org/papers/w32956">National Bureau of Economic Research</a>. Traditionally, economists (being economists) have focused on the economic costs of inflation — i.e., are price increases wiping out everyone's annual raise? But the new study, intriguingly, examines the emotional cost of inflation. How do high prices make people feel, regardless of their financial circumstances?The key, researchers found, lies in the relationship between inflation and wages. In a normal economy, the small raises companies give are enough to offset the minimal inflation we typically see. But when prices spike, companies still default to giving more or less the same <a target="_blank" href="https://www.businessinsider.com/salary-increase-2023-projections-raise-inflation-jobs-wages-income-2022-10">small raises</a>. That presents workers with a dilemma. Do they accept the tiny increase and watch their standard of living fall? Or do they ask their boss for a bigger raise?In a survey of 3,000 workers, researchers found that most — a whopping 79% — just accepted the salary they were offered. Only 21% took action to secure a bigger raise. And doing that put them in a situation people really hate: They had to enter into conflict with their employer. Trying to land a bigger raise meant doing things like having a difficult conversation with their boss, <a target="_blank" href="https://www.businessinsider.com/salary-raise-controversial-tactic-job-interview-counteroffer-employer-2022-11">securing a job offer from a different company</a> to use as negotiating leverage, switching jobs entirely, or having their union negotiate on their behalf. Inflation, in other words, requires people to fight for better pay, which takes a toll on their emotional well-being."We find that conflict with employers is costly to workers," the researchers write. "Inflation imposes costs on workers beyond its impact on real wages."The study found that workers are so averse to conflict, most avoided negotiating for a raise even though they believed that doing so would have paid off financially. Those who didn't put up a fight knew they were paying a price: Had they gone to bat for themselves, they predicted, they would have boosted their salary by 2 percentage points. The fact that they didn't suggests something powerful: Most people hate conflict so much that they'd rather leave money on the table rather than speak up for themselves. The median worker, the researchers calculated, was willing to give up 1.75% of their salary to avoid the anxiety and hassle of negotiating. Most of us, it appears, would rather let inflation screw us over than put the screws to our boss.Thinking about inflation this way — as having both an economic and an emotional cost — helped me make better sense of all the strife that's been roiling the American workplace in recent years. Some of it, as I've reported, was spurred by the red-hot job market during the <a target="_blank" href="https://www.businessinsider.com/the-great-reshuffle-upward-mobility-quitting-jobs">Great Resignation</a>, which shifted the balance of power between workers and their employers. Some of it arose from the ongoing <a target="_blank" href="https://www.businessinsider.com/employees-defying-orders-return-to-office-great-resistance-remote-work-2022-7">war over remote work</a>. And some of it has been driven by historic shifts in the <a target="_blank" href="https://www.businessinsider.com/loyalty-employee-employer-job-security-broken-work-companies-bosses-2024-1">social contract</a>, as white-collar professionals began facing the same threat of mass layoffs that blue-collar workers have long experienced.But now, poring over the new study, I realize I overlooked the role inflation has played in reshaping the pandemic-era workplace. In recent years, I've repeatedly heard a sense of injustice from the workers I've spoken with — a feeling that there's something fundamentally unfair about having to accept what is essentially an inflation-adjusted pay cut. HR departments don't benchmark salaries against inflation, but employees think they should. And the faster prices rise, the study found, the more contentious the workplace becomes.Reading the research, I recalled a conversation I'd had with a friend who had fought for a raise. To force her boss to pay her more, she secured a competing offer from another company. She wound up getting what she wanted — but she still felt resentful. Why couldn't her employer just pay her a fair salary to begin with? She hated having to go through all that drama.I get how hard and frustrating it can be to ask for a raise. I spent most of my career unwilling to stomach the conflict involved in negotiating a higher salary. The first time I ever <a target="_blank" href="https://www.businessinsider.com/salary-pay-transparency-jobs-income-taboo-equity-2023-1">asked for more money</a>, in fact, was during this recent stretch of super-high inflation. And even then, I agonized over the decision. I didn't want my boss to think I was greedy or ungrateful, and I worried I would feel rejected if he turned me down. I drafted and redrafted my request more times than I'd care to admit — and I literally write about this stuff for a living. Turns out I'm just like everyone in the study: Even when I wound up getting a raise, I left the experience wishing that inflation hadn't forced the confrontation in the first place. Rising prices took a toll on me, beyond their financial impact.That, in a nutshell, is why inflation makes us so mad: It dredges up all the complicated feelings we have about our relationship to our employers. Will asking for a raise make us seem disloyal? Will not asking for a raise make us feel like chumps? And why do we have to fight so hard to make sure our paychecks keep up with the rising cost of living? In a normal economy, when inflation is low, we don't have to think about that stuff. But when high prices start eating into our paychecks, we're forced to reconsider the value of our labor — and how hard we're willing to fight for it. Our response to inflation isn't about the price of eggs. It's about the cost of conflict.<a target="_blank" class="" href="https://www.businessinsider.com/author/aki-ito">Aki Ito</a> is a chief correspondent at Business Insider.

Prices are improving. So why is everyone still so worked up about inflation?

There is no denying the fact that <keyword id="12724312" type="General" weightage="20" keywordseo="quick-commerce" source="Orion">quick commerce</keyword> platforms like <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword> and <keyword id="19939134" type="General" weightage="20" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword> have made life easier for us all. Be it planning a last-minute party or restocking your kitchen with regular <keyword id="20191825" type="General" weightage="20" keywordseo="groceries" source="keywords">groceries</keyword>, you can get almost anything on these platforms within minutes. The three platforms offer similar items but there is a slight difference in prices. So, if you are a regular shopper from any of these platforms and use them for buying groceries, here is some news for you. We compared the prices of a few grocery items on all three platforms and found out which one is offering items for a relatively cheaper price. Curious to know more? Well, read on! <h2>The grocery list </h2> First thing’s first, here is the full list of items that were used to compare prices across all three platforms: 1.Onion – 1 kg 2.Tomato – 1 kg 3.Potato – 1 kg 4.Milk – 1 litre 5.Butter – 500 grams 6.Eggs – Pack of 10 7.Bread – 1 packet 8.Cheese slices – Pack of 10 9.Ghee – 1 litre 10.Whole-wheat flour – 5 kg Also, it is to be noted that the location where these items were beingordered from is Rohini, New Delhi at 7:00 pm on August 27. Hence, the price of the items might vary depending on the region that you are living in. <h2>Swiggy, Zepto or Blinkit: A price comparison </h2> Now, coming to comparing the final bill of all three platforms. In Swiggy Instamart, the final bill (with Swiggy One membership) amounted to Rs 1,761 whereas on Zepto, the amount turned out to be Rs 1748. Blinkit, turned out to be the cheapest choice with bill amounting to Rs 1,740. <div type="image" title="Zepto (1)" msid="112862904" hostid="261"></div> We found out that the price of veggies was very similar in all three platforms and milk and bread costs exactly the same in all scenarios. Overall, there is not a lot of difference in prices but Blinkit stands the cheapest option out of all three. <h2>Here is a detailed look at what costs what on the three platforms: </h2> <table style="border-collapse:collapse;border:none;mso-border-alt:solid windowtext .5pt; mso-yfti-tbllook:1184;mso-padding-alt:0cm 5.4pt 0cm 5.4pt" class="redcator-table-advance"> <tbody><tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> S.No </td> <td style="width:138.0pt;border:solid windowtext 1.0pt; border-left:none;mso-border-left-alt:solid windowtext .5pt;mso-border-alt: solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Item name and quantity </td> <td style="width:90.15pt;border:solid windowtext 1.0pt; border-left:none;mso-border-left-alt:solid windowtext .5pt;mso-border-alt: solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Zepto </td> <td style="width:104.95pt;border:solid windowtext 1.0pt; border-left:none;mso-border-left-alt:solid windowtext .5pt;mso-border-alt: solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Swiggy Instamart </td> <td style="width:75.4pt;border:solid windowtext 1.0pt; border-left:none;mso-border-left-alt:solid windowtext .5pt;mso-border-alt: solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Blinkit </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 1 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Onion – 1 kg </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 59 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 58 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 59 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 2 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Tomato – 1 kg </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 64 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 64 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 64 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 3 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Potato – 1 kg </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 46 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 46 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 45 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 4 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Milk – 1 litre </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 68 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 68 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 68 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 5 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Butter – 500 grams </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 262 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 285 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 285 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 6 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Eggs – Pack of 10 </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 114 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 107 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 107 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 7 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Bread – 1 packet </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 50 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 50 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 50 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 8 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Cheese slices – Pack of 10 </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 141 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 159 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 136 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 9 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Ghee – 1 litre </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 626 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 619 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 618 </td> </tr> <tr> <td style="width:42.3pt;border:solid windowtext 1.0pt; border-top:none;mso-border-top-alt:solid windowtext .5pt;mso-border-alt:solid windowtext .5pt; padding:0cm 5.4pt 0cm 5.4pt"> 10 </td> <td style="width:138.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Whole-wheat flour – 5 kg </td> <td style="width:90.15pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 308 </td> <td style="width:104.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 298 </td> <td style="width:75.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-top-alt:solid windowtext .5pt;mso-border-left-alt:solid windowtext .5pt; mso-border-alt:solid windowtext .5pt;padding:0cm 5.4pt 0cm 5.4pt"> Rs 287 </td> </tr> </tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> So, the next time you go grocery shopping on any of these platforms, you have an idea of how to plan things in a smarter way. Keep watching this space for more such stories.

Zepto, Swiggy Instamart, or Zomato's Blinkit: Which Quick commerce platform is offering cheapest grocery options right now

Mumbai (Maharashtra) [India], August 8 (ANI): <keyword id="64190" type="General" weightage="100" keywordseo="RBI-Governor" source="Orion">RBI Governor</keyword> <keyword id="6359111" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="Orion">Shaktikanta Das</keyword> says <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> will moderate from July onwards as the monsoon has improved and <keyword id="489239" type="General" weightage="20" keywordseo="Global-food-prices" source="Orion">global food prices</keyword> have shown signs of easing in July. Das said, "Global food prices showed signs of easing in the month of July after registering an increase since March 2024." A degree of relief in food inflation is expected from the pickup in southwest monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals continue to be above the norms, according to RBI Governor Shaktikanta Das. Das added, "Assuming a normal monsoon and taking into account the 4.9 per cent inflation print, Q1 CPI inflation for the current financial year (2024-25) is projected at 4.5 per cent, with q2 at 4.4 per cent, Q3 at 4.7 per cent and Q4 at 4.3 per cent. CPI inflation for the first quarter of next financial year (Q1 2025-26) is projected at 4.4 per cent." The inflation landscape reflects mixed signals, to which Das said, "<keyword id="21258540" type="General" weightage="20" keywordseo="headline-inflation" source="keywords">Headline inflation</keyword> eased up to 5.1 per cent in June 2024 due to higher than expected food inflation. Fuel remained in deflation for the 10th consecutive month. Core inflation moderated to a historic low in the months of May and June." RBI Governor Shaktikanta Das, outlined the <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> with real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of 7.2 per cent for the fiscal year 2024-25 and headline inflation eased to 5.1 per cent in June, on Thursday. Das said, "Real GDP growth for 2024-25 is projected at 7.2 per cent with Q1 at 7.1 per cent, Q2 at 7.2 per cent, Q3 at 7.3 per cent and Q4 at 7.2 per cent. Real GDP growth for Q1 2025-26, this is something which we are giving for the first time, is projected at 7.2 per cent. The risks are evenly balanced." He added, "We have slightly moderated the <keyword id="387719" type="General" weightage="20" keywordseo="growth-projection" source="Orion">growth projection</keyword> for the first quarter of the current financial year in relation to the projection we gave in the previous MPC in June. This is primarily due to updated information on certain high-frequency indicators which show lower than anticipated corporate profitability, general government expenditure and core industries output." This forecast marks a slight moderation from previous estimates provided in the Monetary Policy Committee (MPC) meeting in June, attributed to recent updates on high-frequency indicators such as corporate profitability, general government expenditure, and core industries output. The inflation landscape reflects mixed signals, to which Das said, "Headline inflation eased up to 5.1 per cent in June 2024 due to higher than expected food inflation. Fuel remained in deflation for the 10th consecutive month. Core inflation moderated to a historic low in the months of May and June." Balancing robust growth projections with a nuanced understanding of inflation dynamics Governor Das stated, "Food inflation which has a weight of around 46 per cent in the CPI basket, contributed to more than 75 per cent of headline inflation in May and June. Vegetable prices increased sharply and contributed about 35 per cent to inflation in June. High inflation pressures persisted across other major food items also." Governor Das mentioned softening in core inflation continues to be broad-based with core services inflation touching a new low in the current CPI series during the month of May and June 2024. Das stated, "The high food price momentum likely to have continued in the month of July also. Large favourable base effects may however push headline inflation downwards in July. The Impact of the revision in milk prices mobile tariffs also needs to be carefully monitored." A degree of relief in food inflation is expected from the pickup in south west monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals continue to be above the norms, according to RBI Governor Shaktikanta das. Das anticipates some relief in food inflation due to the expected pickup in the southwest monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals remain above the normative levels, contributing to a more stable food price environment. Global food prices, which have been on an upward trajectory since March 2024, showed signs of easing in July.

RBI Governor Shaktikanta Das projects 7.2% GDP growth for 2024-25, reports eased inflation to 5.1% in June

Amul milk price increased – here’s how much Amul and others are selling milk for

In April, the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) governor Shaktikanta Das referred to <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> as the ‘elephant in the room’. He said, “The elephant has now gone out for a walk and appears to be returning to the forest. We would like the elephant to return to the forest and remain there on a durable basis… Elephant moves slowly, and last mile inflation tends to be sticky.” On Friday, the Indian government data showed that the year-on-year inflation rate based on the Consumer Price Index (<keyword id="20468215" type="General" weightage="20" keywordseo="CPI" source="keywords">CPI</keyword>) for June 2024 stood at 5.08 per cent — rising from 4.75% last month. This was the first time the headline inflation had risen since December 2023! Looks like the elephant decided to stop and look back on its way to the forest. The question remains, what’s next — will it return to the forest or return to the room to haunt us again? <h2>Food price inflation at a record high</h2> The major driver for the higher inflation figures this month has been the rising <keyword id="19960157" type="General" weightage="20" keywordseo="food-prices" source="keywords">food prices</keyword> across India. In fact, food price inflation almost doubled year-on-year in June, rising to 8.36 per cent last month compared to 4.63 per cent in June 2023. Inflation in the food basket was 9.36 per cent in June, up from 8.69 per cent in May, according to the data of the National Statistical Office (NSO). Government data showed that <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> for all food segments, including cereal, meat, eggs, milk, oils, fruits, vegetables, pulses, sugar, spices, prepared snacks, and sweets, increased month-on-month. This was the main cause for retail inflation hardening in June, diverging from the previous months' moderation. While the inflation rate based on the all-India CPI for June 2024 stood at 5.08%, rural and urban inflation rates also spiked to 5.66 per cent and 4.39 per cent, respectively. “Barring the food basket, inflation is indicating signs of bottoming out broadly across the non-food categories, also seen in the inflation in the core categories averaging at 3.5% in the last six months. A stable monsoon will play an important role in stabilising food prices and inflation levels over the next few months,” said Vivek Rathi, National Director Research, Knight Frank India. In May, annual retail inflation was at a 12-month low of 4.75%, slightly down from April's 4.83%. In December last year, retail inflation stood at 5.7 % and had been moderating until June. On the other hand, the US CPI rose only 3% on an annual basis in June versus expectations of 3.2%. Month-over-month, the US CPI declined 0.1%, on expectations for a 0.1% rise. <h2>There goes the chance of an early rate cut?</h2> While European central banks started to cut interest rates last month, hopes of such policy moves seem to have been derailed by these inflation figures. Indian central bank, RBI, has remained cautiously focused on inflation as the growth prospects remained robust. It has been waiting for the final phase of disinflation to materialise before considering rate cuts. The situation, however, does seem rather peculiar — as long as inflation does not align with the central bank's 4% target, the interest rates may remain rather high. However, the current economic environment is not gloomy at all, characterized by a robust GDP growth rate, estimated at 8.2% for 2023-24. Hence, the RBI adopts a wait-and-see approach. And the wait is likely to continue a little while longer. This year, food prices have become a significant issue for policymakers in India, and the RBI governor pinned his hopes on a good monsoon season to alleviate the food price inflation concerns. So far, the monsoon has stood up to our expectations, yet the food prices have remained stubbornly high, mainly due to extended heat wave conditions in June. "The CPI inflation came marginally higher than our expectations. While the <keyword id="67286" type="General" weightage="100" keywordseo="food-inflation" source="Orion">food inflation</keyword> risks will continue to dominate in the near term, we expect better sowing patterns and spatial distribution of rains to eventually ease the price pressures beyond these volatile months. Having said that, the central bank will be in no hurry to ease <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword> given the headroom from robust growth in the backdrop of near-term inflation risks," said Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank. India's retail inflation remains within the Reserve Bank of India's (RBI) comfort range of 2-6% but exceeds the ideal 4% scenario. While inflation is a global concern, India has so far managed its inflation trajectory relatively well. Since May 2022, the RBI has raised the repo rate by 250 basis points cumulatively to combat inflation. However, over the last eight policy cycles, the central bank has kept the rates consistent at 6.5%. The next monetary policy meeting of the RBI is scheduled for early August. And with the higher-than-expected inflation data, the central bank is likely to keep the rate unchanged next month as well for the ninth consecutive month. However, hopes are still alive for a rate cut towards the end of the year. "We are not ruling out a stance change in October 2024 and a 25 bps rate cut each in December 2024 and February 2025, followed by an extended pause, if the food inflation outlook turns decidedly favourable on the back of a normal magnitude and favourable distribution of rainfall in the rest of the monsoon season, and there are no other shocks, either global or domestic," said Aditi Nayar, Chief Economist at ICRA. (With inputs from ANI and PTI) <div type="Article" hostid="261" msid="110784179" title="Monetary Policy Committee keeps repo rate unchanged at 6.5%, confirms RBI governor Shaktikanta Das" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="110788776" title="RBI retains inflation projection for FY25 at 4.5%" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Inflation spikes in June 2024 due to high food prices; Likely to affect RBI’s decision on interest rate

New Delhi [India], April 25 (ANI): Constrained supplies of milk and wheat, coupled with a volatile international crude oil market with OPEC+ countries deciding to cut crude oil production from May 2023 are factors that may, going forward, influence the inflation outlook in India, Ministry of Finance's Monthly Economic Review report put out on Tuesday noted. Milk inflation in India has remained elevated for several months due to a growing supply-demand mismatch. Milk production has been impacted by a Lumpy Skin Disease (LSD) infecting millions of cattle in late 2022, its prices also rose because of high fodder and transportation costs. To meet the growing demand and considering the fact that the supply of milk in the ensuing summer season being a lean season may be less, the Ministry of Fisheries, Animal Husbandry and Dairying earlier this month said there were demands from several dairy cooperatives for the import of conserved dairy commodities - milk fat and powder. The ministry also added since the process of import takes time, the necessary back-end processes for need-based imports are being put in place to timely manage the situation in case of any eventuality. For wheat, there were reports from various key growing states that unseasonal rains have flattened standing crops in some regions. Wheat, a rabi crop was in an advanced maturing stage and was expected to hit mandis in a fortnight or so. "Although the second advance estimate has projected a record foodgrain production, the crop damage caused by unseasonal rains and hailstorms in some parts of the country since mid-March may constrain wheat production, besides perishable items such as fruits and vegetables," the Ministry of Finance's monthly report said. A survey conducted by Agri Watch, an Indian market information and analysis firm specialising in agricultural commodities, has estimated India's wheat production of 102.89 million tonnes in the 2022-23 crop season, reduced from 104.24 million tons (estimated in March 2023) due to unseasonal rains and hail storm faced by key wheat producing states towards the end of March. The estimates were based on the survey conducted in two phases across nine states- Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Punjab, Uttar Pradesh, and West Bengal. Notably, last year, too, the wheat crop was affected, not due to rains but heatwaves. That came on top of the conflict in Ukraine. Global <keyword id="3854307" type="General" weightage="20" keywordseo="wheat-prices" source="Orion">wheat prices</keyword> have shown substantial volatility in the past year as both the countries -- Ukraine and Russia -- are two major suppliers of wheat. Multiple rounds of heat waves in several wheat-growing regions in India before the rabi harvest last year affected crops. Wheat pods in the mature stage typically shrink if overexposed to heat. To manage the overall food security of the country as well as meet the needs of the neighbouring and other vulnerable countries amid the double whammy, India then amended the export policy of wheat by putting its export under the "prohibited" category, which is still in force. RBI has been engaged in necessary policy actions to counter inflationary pressures and support growth. The Reserve Bank of India, in its first monetary policy review meeting in 2023-24, decided to keep the key benchmark interest rate -- the repo rate -- unchanged at 6.5 per cent, to assess the effects of the policy rate tightening done so far on various macroeconomic parameters. Barring the recent pause, RBI has so far raised the repo rate, the rate at which it lends to banks, by 250 basis points cumulatively since May 2022 in the fight against inflation. In the US, the interest rate is currently at 4.75 to 5.00 per cent, which was near zero during the initial days of the pandemic. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline and vice versa. The RBI sees retail inflation declining to 5.2 per cent in the full year of 2023-24, lower than the 5.5 per cent attained in 2021-22 -- which was mostly free of the impact of the Russia-Ukraine conflict. In India, headline consumer price index-based (CPI) inflation (or retail inflation) has gradually declined from its peak of 7.8 per cent in April 2022 to 5.7 per cent in March 2023. (ANI)

Constrained milk, wheat supplies amid volatile crude market raise inflation concern in India

Breakfast is costing Americans more as bread, eggs, and milk prices soar

The Kerala Co-operative <keyword id="170372" type="General" weightage="50" keywordseo="milk-marketing-federation" source="Orion">Milk Marketing Federation</keyword>, or <keyword id="251235" type="General" weightage="80" keywordseo="milma" source="Orion">Milma</keyword>, on Thursday announced its decision to hike prices of milk by Rs 6 per litre which will come into effect from December 1. Currently, the cost of a litre of milk in the state is Rs 46. The price hike comes three years after Milma had announced an increase of Rs 4 per litre in 2019. "That time, 83.75 per cent (Rs 3.35) of the additional amount went to the farmers. That proportion will continue this time which means Rs 5.025 of the Rs 6 will go to the farmer," said Chairman of the Federation, K.S. <keyword id="9128" type="General" weightage="50" keywordseo="mani" source="Orion">Mani</keyword>. The latest decision comes after a Milma-appointed panel comprising experts from the state's veterinary and agriculture universities conducted a study on expenses incurred by dairy farmers. In its interim report submitted last week, the committee said that the farmers suffer an estimated loss of Rs 8.57 per litre of milk. Subsequently, the Milma Director Board convened a meeting and found that a price hike was inevitable, the Chairman said. "Though Milma is authorised to increase the price, the Board's decision was discussed with the state government and a suitable hike was finalised," he added. Along with a fresh hike in procurement prices, the milk cooperatives and distributors will each get 5.75 per cent of the new hiked amount, while 0.75 per cent of the amount will go to the Dairy Farmers Welfare Fund Board. Milma will get 3.50 per cent of the increased amount even as 0.50 per cent has been earmarked for the <keyword id="15606825" type="General" weightage="50" keywordseo="plastic-elimination-fund" source="Orion">Plastic Elimination Fund</keyword>. Besides the rise in the cooperative federation's milk procurement prices, the government has been giving various subsidies to the farmers. The present hike in the milk procurement price will benefit the milk producers, wooing more of them to join the dairy sector, Mani said. The 1980-established Milma is a state cooperative society headquartered in <keyword id="6357416" type="General" weightage="50" keywordseo="thiruvananthapuram" source="Orion">Thiruvananthapuram</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-generates-15-16-lakh-formal-sector-jobs-every-month-says-ashwini-vaishnaw-citing-epfo-data/articleshow/95738734.cms">India generates 15-16 lakh formal sector jobs every month, says Ashwini Vaishnaw citing EPFO data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sbi-warns-customers-against-instant-loan-apps/articleshow/95738846.cms">SBI warns customers against instant loan apps</a>

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