Correct option is C
The correct answer is:(c) Sharp increase in prices of vegetables, pulses, and edible oils
Explanation:
In June 2024, India's retail inflation rose to 5.08%, marking the first increase in five months. This uptick was primarily driven by a sharp rise in food prices, which account for nearly half of the Consumer Price Index (CPI) basket.
In June 2024, India's retail inflation rose to 5.08%, marking the first increase in five months. This uptick was primarily driven by a sharp rise in food prices, which account for nearly half of the Consumer Price Index (CPI) basket.
Information Booster:
In June 2024, food inflation in India increased to 9.36%, up from 8.69% in May .
Vegetable prices rose by 29.32% in June, contributing significantly to the overall food inflation .
Pulses and edible oils also saw substantial price hikes, further elevating food inflation rates .
The increase in food prices was attributed to adverse weather conditions such as heatwaves and floods, which disrupted agricultural production .
Despite a decline in fuel prices, core inflation remained low, indicating that the primary driver of the inflation spike was the food sector.
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