Onion Prices Making Indian Food Inflation Out Of Control

Bangalore: The Indian food inflation is facing constant jerks as vegetables prices in the country surged 46.59 percent in July year over year. Especially the recent price of the onions saw a particularly dramatic jump, reports Business Insider.

Live Mint reported that the onion prices have hiked 144 percent in July over the year-ago period. Since January, onion price levels have been nearly double what they were a year ago.

According to Wall Street Journal, the prime reason is considered to be the heavy rains during the month of July which damaged vegetable crops in areas of the country.

The price hike has undoubtedly affected the country's poor population which spends most of their income on food.

Though Central bank of India has lowered the interest rates three times this year, but decreasing it further crush the rupee and drive inflation higher, the Journal reported.

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