22% Rise In Daily Essential Price-Tags Since January

A surge between 10-22 per cent has been recorded in the price-tags of daily groceries from oil and spices to rice and hair oils.

Retail analytics platform Bizom’s analysis states that this has impacted volume sales, particularly in rural markets dragging down the market growth. Price hikes in non-food categories, however, aren't so steep with soaps and detergent prices up by 1-3 per cent.

After surging to reach nearly 35 per cent in the first quarter, the prices of edible oil prices have come down consistently, while still being 5-22 per cent higher across segments since January. Likewise, inflation in spices remains to be high at 3-17 per cent despite India being among the largest exporters of spices.

Nirmal Bang’s report said that its internal FMCG Commodity Price Inflation Index, tracking the movement of key commodities prices at a basket level, has now seen an inflation of 12.6 per cent in August against a year ago, lower than the 16-17 per cent inflation seen in the previous three months.