Economics
Respite for RBI as India Vegetable Prices Come Off the Boil
- Tomato, potato and onion prices decline in wholesale market
- Base effect, record crop-harvest seen helping cool inflation
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Sizzling vegetable prices in India that have kept inflation high are beginning to cool, helping price-growth return toward the central bank’s target band and allowing policy makers to keep interest rates lower for longer.
The wholesale price for staples such as onions was 29 rupees (39 cents) a kilogram in New Delhi on Tuesday, down 29% from Nov. 1, while the price of tomatoes fell about 11%, according to the department of consumer affairs. Potatoes dropped 1.7% to 29.5 rupees during the same period, it said.