RBI says softening in cereal prices continues

Reserve Bank of India (RBI) has stated in its monthly update today that food prices remained in deflation for the fourth consecutive month, though the rate of deflation eased. Within food group, prices declined for cereals, pulses, spices, and vegetables on a y-o-y basis. High-frequency food price data for January so far (up to 19th) point towards a softening in cereal prices. Among pulses, a broad-based moderation in prices is observed across gram, moong and tur/arhar dal. Within edible oils, sunflower oil and groundnut oil prices increased. Within vegetables, onion prices picked up while potato prices eased further.

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