In-focus

Business

High inflation cripples India

Dunya News

India is beset by rising food and fuel prices, and the government has failed to control inflation.

India is beset by rising food and fuel prices, and the federal government has come under increasing criticism for failing to control inflation, which has hit hundreds of millions of poor people. India’s food price index rose 11.43 percent and the fuel price index climbed 14.70 percent in the year to Oct. 15, government data.The shopper in Indias national capital lamented over the skyrocketing inflation that has become a serious issue and the federal government should take collective efforts to anchor it. “We have severely affected by inflation. Now we are buying less vegetable because of such price hike and every second day we need to refill the vegetables at our homes. We buy potato, tomato and onion as they are basic vegetables but we cannot afford buying the vegetables like broccoli, mushroom, etc,” said Diksha, a shopper.Talking to the media, H M Mishra, another shopper, said that his entire house budget has affected with such skyrocketing prices. “My house budget has totally got affected, vegetables are very expensive as compared to before. All the necessary items are expensive whether it is sugar, rice, pulses, vegetables and oil. I am buying less vegetables now and I am not buying the vegetables which are too expensive,” said Mishra.In the previous week, annual food and fuel inflation stood at 10.60 percent and 15.17 percent, respectively. The primary articles price index was up 11.75 percent, compared with an annual rise of 11.18 percent a week earlier. Meanwhile Shivangi, a homemaker, from Jaipur city of Indias northwestern Rajasthan state urged the federal government to do something in this regard.“According to me the entire budget in my kitchen has got affected due to high inflation; fruits are more expensive than vegetables, and now the vegetables are being sold at the prices of fruits. So, we are unable to afford fruits for our children. There is no difference in the rates of the vegetables, and hence we are helpless. Despite being it is winter season there is no decline in the inflation rate. Earlier it was said the price is skyrocketing due to summer season, but today there is no difference in the rate of vegetable. What can we do? It is not that we will clip our shopping, but the federal government should ponder on this serious issue. If we are suffering from this acute problem, then the poorest would have been facing it alarmingly as it would be difficult for them to get two square meal,” said Shivangi.India’s central bank or Reserve Bank of India (RBI) raised interest rates on Tuesday for the 13th and possibly final time in a tightening cycle that began in early 2010, on expectations that persistently high inflation will finally begin to ease starting in December.