Onion prices nearly 113% help India's retail inflation reach 5.5%
Basic groceries just got a lot more expensive: onion prices have shot up by nearly 113% in the past year, helping push India's retail inflation to a nearly two-year high of 5.5% in Sept.
It's not just onions: sugar and sunflower oil prices also jumped by nearly 22% and nearly 18%, making everyday meals costlier for everyone.
India's food inflation hits 7.74%
Food inflation overall hit 7.74%, with staples like tur dal rising sharply in average retail price (from ₹113 to ₹129 per kg).
Edible oils followed the trend, especially sunflower oil, while potatoes were the rare item to get cheaper (down over 6%).
The main reason for pricier onions is lower harvests in Maharashtra due to less land under crops and late monsoons.
To help out, the government is thinking about releasing chana from its buffer stock, hoping to ease some pressure on wallets.