New Delhi: The government's measures have kept prices of essential commodities in India stable, with staples such as rice, wheat, atta and pulses showing a decline over the year and month prior, according to consumer affairs secretary Nidhi Khare.
The government is actively monitoring prices of 40 essential commodities daily due to concerns over imported inflation, Khare said in an interview. Timely interventions, including buffer stock releases and supply-side measures, prevented any sharp spikes despite external shocks, she said.
Cereal prices have stayed flat year-on-year, according to the consumer affairs ministry’s data as of 4 April. Rice stood at ₹42.61 per kg compared with ₹42.89 a year ago, while wheat declined to ₹31 per kg from ₹31.76. Wheat flour or atta eased to ₹36.98 per kg from ₹37.6 a year earlier, indicating adequate domestic availability and stable procurement.
Pulses, a major driver of food inflation in previous years, have shown a broad-based softening. Tur (arhar) dal declined to ₹122.05 per kg from ₹130.63 a year earlier. Gram (channa) dal to ₹85.04 from ₹87.59, while urad dal declined to ₹117.44 from ₹119.18. Moong dal also saw a marginal correction, while masoor dal remained largely stable.
Cereals account for around 9% of the Consumer Price Index (CPI) basket, while pulses have a weight of about 2–3%.
Retail inflation in India rose to a 10-month high of 3.21% in February on higher vegetable prices and renewed food security risks. This marks an increase from 2.13% in January under the new 2024-based series.
“The reason that I see for the price correction is the disruption in exports of commodities such as rice, wheat, wheat products and vegetables. While this is positive from a consumer and inflation perspective, we also need to look at it from the farmers’ point of view,” said Rakesh Arrawatia, professor at the Institute of Rural Management Anand (IRMA), Gujarat, and dean, School of Cooperative Banking and Finance. “The government should ensure that farmers are getting better prices for their produce.”
On 24 March, Prime Minister Narendra Modi had said in Lok Sabha that the Centre has constituted seven empowered groups of officials and experts to assess the impact of the war in West Asia and take remedial measures across sectors.
The empowered groups have been tasked with examining strategic issues, including prices and supply of essential commodities, transport and logistics, defence and external affairs, and economy, finance, and supply chain-related matters, among others. The consumer affairs secretary is leading the empowered group on prices and supply of essential commodities.
Vegetable prices, which also contribute around 6% to the CPI, have moderated sharply over a year earlier as of 4 April. Onion prices dropped to ₹24.99 per kg from ₹31.11, while potato fell to ₹20.42 from ₹23.59. Tomato prices, however, increased to ₹26.76 per kg from ₹20.89.