#RetailInflation in May 2021 is 6.3%,Vs 4.23% in April
Core Inflation is 6.6%,Vs 5.4%
Food Inflation is 5.01% Vs 1.96%
Despite uptick,@narendramodi
govt has done very well to rein in #Inflation
Global Food Index in May is up 39.7% YoY,due to drought in many parts of the globe
Core Inflation is 6.6%,Vs 5.4%
Food Inflation is 5.01% Vs 1.96%
Despite uptick,@narendramodi
govt has done very well to rein in #Inflation
Global Food Index in May is up 39.7% YoY,due to drought in many parts of the globe
#GlobalFoodIndex is measured by
#FAO Food Price Index,#FFPI,which is a measure of monthly changes in international prices of a basket of #food commodities;It consists of average of five commodity group price indices,weighted by average export shares of each group over 2014-2016
#FAO Food Price Index,#FFPI,which is a measure of monthly changes in international prices of a basket of #food commodities;It consists of average of five commodity group price indices,weighted by average export shares of each group over 2014-2016
Why have #Food prices surged globally?
Argentina saw a big drought
Ukraine&Russia also suffered from drought&inclement weather
Indonesia&Malaysia,biggest producers of #PalmOil,have curbed exports,as govts in these countries have made blending of Palm Oil,with fuel,mandatory
Argentina saw a big drought
Ukraine&Russia also suffered from drought&inclement weather
Indonesia&Malaysia,biggest producers of #PalmOil,have curbed exports,as govts in these countries have made blending of Palm Oil,with fuel,mandatory
#FFPI averaged 127.1 points in May 2021,5.8 points (4.8%) higher than in April&as much as 36.1 points (39.7%) above same period last year
May rise is biggest month-on-month gain since Oct 2010&twelfth consecutive monthly rise in value of FFPI to its highest value since Sept 2011
May rise is biggest month-on-month gain since Oct 2010&twelfth consecutive monthly rise in value of FFPI to its highest value since Sept 2011
In fact,globally,#Food prices in May 2021,are just 7.6% below peak of 137.6 points seen in Feb 2011
Sharp rise in May reflects surge in prices of oils,sugar&cereals
FAO Cereal Price Index averaged 133.1 points in May 2021,up 6% Vs April'21&35.7 points or 36.6% Vs May2020 value
Sharp rise in May reflects surge in prices of oils,sugar&cereals
FAO Cereal Price Index averaged 133.1 points in May 2021,up 6% Vs April'21&35.7 points or 36.6% Vs May2020 value
Among major #Cereals,global #Maize prices rose the most,gaining 12.9 points (8.8%) in May 2021, reaching 75.6 points (89.3%%) above their value last year&their highest level since Jan 2013
Fall in production in #Brazil added to already tight global supplies amidst strong demand
Fall in production in #Brazil added to already tight global supplies amidst strong demand
International #Barley& #Sorghum prices also rose in May,rising by 5.4%& 3.6%
Following surge in #Wheat prices in May,wheat prices rose 8 points (6.8%) Vs April&27.7 points (28.5%) Vs May 2020
FAO #Vegetable Oil Price Index averaged 174.7 points in May, up 12.7 points (7.8%),MoM
Following surge in #Wheat prices in May,wheat prices rose 8 points (6.8%) Vs April&27.7 points (28.5%) Vs May 2020
FAO #Vegetable Oil Price Index averaged 174.7 points in May, up 12.7 points (7.8%),MoM
FAO #Dairy Price Index averaged 120.8 points in May 2021,up 1.7 points (1.5%) from April,marking one year of uninterrupted increases &lifting the value 26.4 points (28%) above its level of a yr ago
Index is still 22.8% below peak reached in Dec2013 but heading there
#Inflation
Index is still 22.8% below peak reached in Dec2013 but heading there
#Inflation
FAO Meat Index averaged 105 points in May,up 2.3 points (2.2%) from April,8th monthly rise &lifting index 10% above level of one yr ago
FAO Sugar Index averaged 106.7 points in May,up 6.8 points (6.8%) from April,marking 2nd consecutive monthly rise&highest level since March2017
FAO Sugar Index averaged 106.7 points in May,up 6.8 points (6.8%) from April,marking 2nd consecutive monthly rise&highest level since March2017
Rise in global #Sugar price is due to harvest delays&concerns over reduced crop yields in #Brazil,world's largest sugar exporter,as prolonged dry weather conditions impacted crop development
Firm #CrudeOil&stronger Brazilian Real versus Dollar,also impacted shipments from Brazil
Firm #CrudeOil&stronger Brazilian Real versus Dollar,also impacted shipments from Brazil
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