According to experts, due to the ever-increasing prices of petrol and diesel and the rising cost of production in the country, inflation will be an extremely huge problem in the imminent future. Moreover, due to the increase in the price of milk, the prices of dairy products have also risen. But as of now, some relief is expected from this scorching inflation in the upcoming month.
The effect of the increase in petroleum prices has led to an increase in the prices of edible oils too. The price of mustard oil has gone up to ₹250/Litre from ₹90/Litre within a month. At the same time, the price of one kg of salt used to range from ₹9 to ₹25 per kg last year. Today, the price of one kg of salt has gone up to ₹21 to ₹90 per kg.
Similarly, the prices of Wheat flour and Arhar daal have also seen an increase. Last year, where the flour prices ranged from ₹17 to ₹45 per kg, today its price has gone up to ₹39 to ₹90 per kg. At the same time, one kg of Toor daal which was ₹65 to ₹180 per kg last year has now gone up to ₹190 to ₹258/kg.
There is also an increase in the price of tea. Last year tea was priced at ₹120 to ₹450 per kg, today it has gone up to ₹299 to ₹625/kg. Experts have said that the supply chain has been badly affected due to the COVID-19 pandemic which has led to this inflation. Moreover, this has greatly reduced the arrival of goods in the local mandis. However, experts say that people can get some relief in August because of the monsoon-bloom as well as relaxation in the lockdown restrictions.
Due to the lockdown, most of the oil mills remained sealed in various states and during this time the import of edible oil from abroad also decreased. Due to the pandemic, the workers working in the wheat mills were less and on top of that, the arrival of wheat in the mills also decreased. Owing to these things, the supply could not be made according to the demand. Hence, the price of flour also increased.
Amid this crisis induced by the pandemic, Amul has decided to increase the price of milk. On Wednesday, Amul announced a hike of ₹4 on a litre of milk. Dr RS Sodhi, MD, Amul, says that due to rising food inflation, it was necessary to increase the prices of milk. The cost of packaging has also gone up by 30-40 percent. Along with this, the transportation cost has also increased by up to 30 percent. Apart from this, the energy cost has also increased by 30 percent.
He further said that due to the cost of all these things, there has been a huge increase in the input cost. After the increase in the prices of milk, the price of paneer, butter, ghee, buttermilk, lassi, ice cream may also increase. This will have a direct impact on the common man, who will now have to spend more money on these things than before.
The production of tea in Assam has also been badly affected due to the unfavourable weather and the pandemic. Therefore, there has been an increase of about 25 percent in the price of tea within a year. However, after a significant increase in tea production in July, its prices are expected to come down this month.