Food inflation falling, price rise low in last seven years: Government
Overall, inflation has remained low in the last seven years. But in some items, there was a rise in prices due to supply constraints because of COVID-19, said Minister of State for Finance Anurag Singh Thakur
New Delhi: The government on March 16 informed Parliament that inflation has remained low in the last seven years—except for a spike in some items—and the government is taking steps to bring it further down.
Minister of State for Finance Anurag Singh Thakur, during Question Hour in the Rajya Sabha, said food items in the consumer price index (CPI) are showing a month-on-month decline. Commodities such as cereals, meat and fish, egg, vegetables and pulses have declined during January-February.
“Overall, inflation has remained low in the last seven years. But in some items, there was a rise in prices due to supply constraints because of COVID-19 and a rise in demand,” he said, responding to a supplementary query.
In 2013-14, there was double-digit inflation. In comparison to that, now inflation is less. However, the government is making efforts to bring it further down, he added.
Thakur said the government took measures to reduce the import of oilseeds and pulses by boosting production, giving a higher minimum support price to farmers.