Goldman Sachs report says that in FY20 food inflation likely to go up to 2 percent

Posted on:26 Mar 2019 13:03:57
Goldman Sachs report says that in FY20 food inflation likely to go up to 2 percent
26 March 2019 Current Affairs: Goldman Sachs report said that food inflation in the country is likely to go up to 2% in the fiscal year 2019-20 from the 0.7% estimated for FY19. It can be noted that low food prices had been one of the prime factors which had aided the RBI to be more accommodative in its rate-setting recently.
It also attributed that the low food prices in the last few months to the prices of cereals and vegetables which had remained low for some time. Deregulation of markets, which saw delisting of vegetables from the Agriculture Produce and Marketing Committee Act in 14 States, had helped keep vegetable prices low.
Goldman Sachs report said that food inflation in the country is likely to go up to 2% in the fiscal year 2019-20 from the 0.7% estimated for FY19. It can be noted that low food prices had been one of the prime factors which had aided the RBI to be more accommodative in its rate-setting recently.
It also attributed that the low food prices in the last few months to the prices of cereals and vegetables which had remained low for some time. Deregulation of markets, which saw delisting of vegetables from the Agriculture Produce and Marketing Committee Act in 14 States, had helped keep vegetable prices low.

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