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Record rise in inflation amid the tragedy of Corona in the state

  • Due to increase in wholesale and retail inflation for the last three months, life is suffering.
  • The kitchen of the house is now over-controlled
  • Increase in prices of pulses, onions, potatoes, fruits, eggs and meat

Ravi Shankar Singh
Siliguri: In the midst of the tragedy of Corona, inflation is also breaking records. In the midst of rains, where the prices of vegetables are skyrocketing in the market, the common citizens are facing a lot of trouble due to the huge jump in the prices of food items in the retail and wholesale markets too. According to one figure, the wholesale inflation rate reached 11.89 percent in the last 15 days, while in the last week of May this figure was only 10.27 percent. Retail inflation also witnessed a sharp jump due to the rise in the price of food articles and reached the highest level of 6.3 per cent in the last six months. At the same time, experts say that along with the rising prices of fuels in the country, many restrictions imposed in the state are the main reason for this.
On the other hand, according to the traders of Siliguri Wholesale Mandi, there has been a fall in pulses and oil for the last four days, but the retail traders are still selling the goods at high prices, which is wrong.
Increase continues for three months: Wholesale price inflation in the markets is seeing an increase for the third consecutive month. This sequence continues continuously. It is believed that the main reason for the rise in inflation is the increase in the price of petrol, diesel, furnace oil as well as increase in railway freight freight. The increase in the prices of these items and freight in railway freight is much higher than last year.
Fuel and electricity inflation stood at 36.45 per cent as against just 20.34 per cent in April this year. Inflation of manufactured products in the market stood at 10.11 per cent in May and has now gone up to 9.02 per cent. Wholesale inflation in food articles moderated marginally to 4.51 per cent in May.
In the vegetable market, new potatoes are being sold at Rs 26 per kg and onions at Rs 14 per kg. At the same time, there is a huge jump in the prices of other green vegetables. The prices of ginger and garlic have also increased relatively and it is being sold at the rate of Rs 160 per kg in the market.
Increase in retail price of food items: The prices of food items have increased throughout the country as well as in this part of the state. The rise in retail inflation is also having a profound impact on the lives of common people. It is said that the inflation rate of food items stood at 5.03 percent. This is an increase of 1.86 per cent over the previous month. At the same time, experts say that this inflation rate is higher than the satisfactory level of the Reserve Bank.
Rising fuel prices dangerous Petrol price in Siliguri on Friday stood at Rs 96.90 (Normal) per liter while diesel reached Rs 89.20 per liter. The rise in fuel prices is also being seen directly linked to inflation. Experts consider this as a major reason behind the rise in inflation.
Restrictions also help in inflation growth:
State government restrictions are also proving helpful in increasing inflation. Experts say that the rise in inflation is also being seen due to the problems coming in the direction of supply and disruption of logistics. It is said that from the last week of May to June 15, the price of onion and potato increased. It is estimated that there has been an increase of 22 percent in its value.
Effect of Inflation on EMI:
Ujjwal Sarkar, an economics professor from Siliguri, said that the Reserve Bank pays special attention to retail inflation while considering monetary policy. Based on this, the rate of EMI is decided. If the retail inflation rate remains high, the Reserve Bank does not reduce the policy rates to bring it down, which makes it expensive to take loans.
Who showed up?
Pulses : 13.3%
Onion: 23%
Fruit: 20.18%
Eggs and meat: 11.19%
Potato: 15.26%
Rice: 9.2%
Flour: 8.2%
“For the last four days, there has been a fall in the prices of oil and pulses in the wholesale market of Siliguri. Despite this, the retailers are not reducing its prices. Now the administration should adopt a strict attitude on this so that people can get food items at reasonable prices.
Karan Singh Jain, President, Siliguri Merchant Association
With the efforts of the state government, every effort is being made to control inflation. Soon the market price will be controlled. Food items will be available to the people at reasonable prices and the administration is also conscious in this direction.
Sanjay Tibrewal, President, CII, North Bengal Chapter

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