New Delhi:
Digging a bigger hole in the common man's pocket food inflation has shot through the roof. It has jumped a huge 4 % to hit 18 % in just one week throwing household budgets out of gear.
Economists warn if food prices aren't controlled soon, prices of other essential commodities too will go up.
"It's an area of concern... but these are weekly... let's wait for the full monthly figure average," said Pranab Mukherjee, Union Finance Minister.
Clearly, the Government is concerned and several meetings and action plans are being worked out. However, those responsible for running the kitchen at their homes find relief nowhere in sight as the 4% spurt is primarily because of vegetable prices spiralling out of reach.
Anand Sharma, Union Commerce Minister said, "The Government is deeply worried because our attempt was and is to level the deficit and make the imported onion reach the country."
In the last one week, the prices of the humble tomato has gone up by 113%, cabbage by 127%, brinjal 95%, onion at 83% and cauliflower 70%.
The three week old onion crisis is yet to abate.
Although there's no identifiable reason for the rising prices, the analysts suspect the role of profiteering middlemen in bringing in the crisis.
"Gap between farmers and retail must be reduced... measures must be taken. I cannot tell you harsh or not harsh measures but the measures must be like better marketing, less profit for middlemen, better communication and transport," said Kaushik Basu, the Chief Economic Advisor.
But it's not just the vegetable prices that are giving the common man sleepless nights. Prices of other commodities like milk, eggs, sugarcane and even raw cotton are rising sharply. And as the PM's chief economic advisor warned food inflation could push up prices overall.
Economists warn if food prices aren't controlled soon, prices of other essential commodities too will go up.
"It's an area of concern... but these are weekly... let's wait for the full monthly figure average," said Pranab Mukherjee, Union Finance Minister.
Clearly, the Government is concerned and several meetings and action plans are being worked out. However, those responsible for running the kitchen at their homes find relief nowhere in sight as the 4% spurt is primarily because of vegetable prices spiralling out of reach.
Anand Sharma, Union Commerce Minister said, "The Government is deeply worried because our attempt was and is to level the deficit and make the imported onion reach the country."
In the last one week, the prices of the humble tomato has gone up by 113%, cabbage by 127%, brinjal 95%, onion at 83% and cauliflower 70%.
The three week old onion crisis is yet to abate.
Although there's no identifiable reason for the rising prices, the analysts suspect the role of profiteering middlemen in bringing in the crisis.
"Gap between farmers and retail must be reduced... measures must be taken. I cannot tell you harsh or not harsh measures but the measures must be like better marketing, less profit for middlemen, better communication and transport," said Kaushik Basu, the Chief Economic Advisor.
But it's not just the vegetable prices that are giving the common man sleepless nights. Prices of other commodities like milk, eggs, sugarcane and even raw cotton are rising sharply. And as the PM's chief economic advisor warned food inflation could push up prices overall.
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