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High-Priced Vegetables Causing Wholesale Inflation
August 22, 2017
Wholesale inflation touched 1.88% in July, a sharp increase from the 0.90% rate recorded during June, mainly because of the costlier food items such as the vegetables.
According to the industry stakeholders, the inflation rate for July was higher than expected (Reuters expected 1.3%). While the vegetable prices increased by 48.75% on a month-over-month basis, those of potatoes jumped by 17.45%. These hikes have been contributed to seasonal factors by the analysts.
