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Commodity prices shoot up in Jaipur | Resident of Jaipur are facing problems due to the price rise of general commodities by 40 to 50 percent. Prices of essential food items, vegetables and items like sugar,
ghee or clarified butter, rice and pulses have been witnessing a sharp increase.
Upset at being unable to manage her kitchen budget Dr. Amisha Jain, said it is
difficult to compromise on the kitchen items; hence she has cut down on other
accessories and shopping sprees. "Earlier, the monthly grocery cost us around
2,000 rupees, but now it costs up to 3000 rupees so we have to compromise on other
accessories and shopping items. But, kitchen is something we can't compromise
on," Jain said. The high prices of the general commodities have not only affected
the households but have also shrunk the profits of the retailers. Shopkeepers
in the Pink city complained that due to high prices their sales have come down
and their margins have fallen very low. "The flour prices have risen up from 15
rupees to 18 rupees. We earn about 100 rupees from our shop, which is spend on
buying general grocery items. Where will the poor person go with these hiked prices
and what will he eat? I have never seen such a hike in the commodity prices in
my whole life," said Manorama, a vegetable seller. India's annual wholesale price
inflation was 1.34 percent in October, but the benign numbers just reflect the
high base effect of prices a year ago, and hide the real rise in prices of food
articles. The WPI has already risen over 6 percent from the beginning of the 2009-10
financial year that started in April. Economists have said the inflation could
rise to as much as 8 percent by the end of the financial year -- above the central
bank's perceived comfort zone of around 5 percent. Food prices have jumped 15.6
percent in the year on supply constraints. Though the food inflation is politically
sensitive, yet it is largely beyond the scope of interest rate policy. |
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